February 15, 2017 / 8:36 PM / a year ago

Sky rejects Spark request to hold off on Vodafone NZ takeover

WELLINGTON, Feb 16 (Reuters) - Sky Network Television said that if it gets regulatory clearance to buy Vodafone’s New Zealand unit it will not hold off on the deal to give rival Spark NZ time to challenge the regulator’s decision in court, as requested.

Sky, in a statement to the stock exchange on Thursday, said a number of parties including Spark and Trustpower had sent it a letter asking it to hold off on the transaction if the Commerce Commission ruled in its favour so that they could initiate court proceedings.

The Commerce Commission is due to rule on the proposed NZ$1.3 billion ($938 million) takeover on Feb. 23 and has previously cited concern the deal would dampen competition from rival broadband and mobile providers. ($1 = 1.3866 New Zealand dollars) (Reporting by Charlotte Greenfield; Editing by Susan Fenton)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below