ComCom nixes merger

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BREAKING NEWS: The NZ Commerce Commission has this morning declined the proposed merger of Vodafone NZ with Sky Network Television, drawing an immediate – but restrained – response from both parties.

“We are not satisfied that we can say that competition is unlikely to be substantially lessened by the proposed merger,” said NZCC Chairman Dr Mark Berry, promising to release the full detail of the judgement “in due course”.

“Vodafone will carefully review the Commission’s statement and consider all courses of action,” said ceo Russell Stanners in a statement that set a new record for brevity. “We are disappointed the Commerce Commission was unable to see the numerous benefits this merger brings to New Zealanders.”

Sky ceo John Fellett also expressed “disappointment”

  • NBR has the story (it’s free) here

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