Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Vector clearance application

Issued 30 July 2002-03/017

Commission receives clearance application from Vector

The Commerce Commission has received an application from Vector Limited, and any of its interconnected corporate bodies, to acquire up to 100% of the shares in the capital of UnitedNetworks Limited (UNL) and some or all of the assets of the businesses carried on by UNL.

Vector Limited is 100% owned by the Auckland Energy Consumer Trust. It owns and operates the electricity network infrastructure in the Auckland region. The network distributes power to more than 270,000 residential and commercial customers located in the Auckland, Manukau and Papakura districts, including Waiheke Island.

UNL is a publicly listed company with its major shareholders being UtiliCorp NZ Limited and UnitedNetwork Shareholders' Society. UNL is a network infrastructure company with business activities in electricity and gas distribution, and telecommunications.

In considering the application under the Commerce Act, the Commission's role is to determine whether the merger has the effect of substantially lessening competition in a market.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>