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Telstra Saturn Applies To Acquire Clear

Issued 15 November 2001/112

Telstra Saturn Applies To The Commerce Commission To Acquire Clear Communications

The Commerce Commission has received an application from TelstraSaturn Limited for clearance under the Commerce Act to acquire all of the assets of Clear Communications Limited.

TelstraSaturn was incorporated in New Zealand on 19 July 1989. Shareholders in TelstraSaturn include Austar United Communications Limited, Telstra Holdings Pty Limited and Saturn (NZ) Holding Company Pty Limited. Clear is a wholly owned member of the British Telecommunications plc group of companies. The sole shareholder of Clear is Newgate (NZ) Holdings Limited which is a wholly owned subsidiary of BT (Netherlands) Holdings B.V.

TelstraSaturn currently provides the New Zealand market with cable TV, Internet and data services, business Internet services, and owns a web design company called Zivo. Clear offers a range of voice data, Internet and e-commerce services as well as its Internet Service Provider (ISP) - Zfree.

In considering the application, the Commission's role is to determine whether the merged company has the effect of substantially lessening competition in the market.

A public version of TelstraSaturn's application is available on request from the Commerce Commission.

Ends

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