Large shareholder opposes NZME sale at current price
“What is the benefit in APN selling some of NZME? Until someone can explain that to me the transaction is unlikely to get our support.”
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Hawke’s Bay
The second largest shareholder of APN News & Media [NZX:APN] says it is not worth spinning off its New Zealand arm unless higher earnings multiples can be reached.
Australian fund management firm Allan Gray, which owns 17.68% of APN, says the forecasted sale price for NZME of six-times earnings
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Calida Smylie
Mon, 09 Feb 2015
Mon, 09 Feb 2015
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Large shareholder opposes NZME sale at current price
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