Mobile phone operator 2degrees is questioning the government’s minimum reserve price of $198 million for new fourth generation (4G) mobile spectrum, saying it’s well above prices being paid for existing spectrum. Communications Minister Amy Adams announced the auction of spectrum in the 700 Megahertz range from Oct. 29, after spending $157 million clearing the spectrum of analogue television broadcasting to …

Derma Sciences, the Nasdaq-listed company with exclusive global rights to Comvita’s Medhoney wound care products, has taken a 7.3 percent stake in the Te Puke-based Manuka honey products firm via a discounted placement. Comvita raised about $9 million selling about 2.3 million new shares to Derma at $3.90 apiece, a 3.7 percent discount to the stock’s closing price on the …

Rural Equities, the farming group controlled by the Cushing family, reported a 31 percent drop in annual profit as property revaluations lagged behind those from a year earlier, and as the North Island’s worst drought in seven years ate into operating earnings. Net profit fell to $10.9 million in the 12 months ended June 30, from $15.8 million a year …