2253 GMT - Brookfield Asset Management's previous investment in New Zealand mobile telecommunications could give a hint at its strategy should it try to buy Australia's Optus from Singapore Telecommunications, E&P Capital analyst Entcho Raykovski says. He points out that, with Brookfield owning a 49.9% interest, Vodafone NZ prioritized profitability and returns over mobile subscriber market share. Raykovski tells clients in a note that the mobile provider grew annual Ebitda from NZ$463 million in FY 2019 to NZ$528 million in FY 2023, a period that largely coincided with Brookfield's stake ownership. This was despite a relatively flat revenue base and the impact of Covid-19, he adds. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 26, 2024 18:53 ET (22:53 GMT)
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