NZ's Sky Network Television slumps after co addresses media speculation
06/06/2022 23:57
** Shares of NZ's broadcaster Sky Network Television
SKT.NZ slide as much as 7.6% to NZ$2.440
** Stock is on track for worst session since Feb 24, if
losses hold
** Co addresses recent media speculation in relation to its
possible acquisition of MediaWorks Holdings Ltd urn:newsml:reuters.com:*:nNZWGn9Dj
** Co advises it is currently in exclusive negotiations with
MediaWorks shareholders regarding potential acquisition of
MediaWorks' radio and out-of-home advertising business
** Likelihood of transaction proceeding is still highly
uncertain with discussions and due diligence ongoing and
incomplete - SKT
** Stock hits lowest level since May 20
** As of last close, SKT down ~2.2% so far this year
(Reporting by Upasana Singh in Bengaluru)
((Upasana.Singh@thomsonreuters.com))
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