Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.Launch Radio player
UPDATED 3pm // APN has released a statement to the NZX, saying it has "nothing to announce at this stage," amid speculation the company has found a buyer for its New Zealand assets.
APN's share price has jumped 20% to 54 cents on the NZX this morning, but have since dropped back to 50 cents.
New Zealand's chief executive, Martin Simons, told NBR ONLINE there is no "imminent deal" on the sale of the company's New Zealand assets.
APN hired Deutsche Bank in May to conduct a "strategic review" of its New Zealand assets, which includes The New Zealand Herald, The Listener, and a 50% stake in The Radio Network.
"There's certainly nothing out of that process that would be driving that change," Mr Simons told NBR ONLINE.
"We've said to the market we are doing the review, it is in process, there are a number of interesting discussions and there's been no conclusion at this point.
"Certainly, there is no imminent deal in New Zealand that is driving any share price movement."
Mr Simons says he is also not aware of anything in Australia which would be driving its share price there.
APN shares surged 25% on the ASX 200 yesterday, leading investors to wonder if it is about to announce a sale.
But today they slipped 5.8% to A40.5 cents this morning.
APN's shares on the NZX reached a one-year low of 37 cents early September following the departure of the company's chief financial officer, Peter Myers.
A year ago they were at $1.04.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Mass collection of Pacific data affects Kiwi holidaymakers — InternetNZ boss
- NZ could reap $190M/year benefit becoming first nation to allow beyond-line-of-sight drones
- Reserve Bank consults on tougher rules for property investors
- JP Morgan's NZ branch gets formal warning over lack of risk assessment plan in 2013
- John Key rejects Snowden docs as 'outdated'