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

 

Spark welcomes Court decision on Sky/Vodafone merger

Spark New Zealand welcomes Court decision to stay any Sky/Vodafone merger clearance

Spark New Zealand (“Spark”) said today it welcomes a High Court decision to order a short-term stay in the event the New Zealand Commerce Commission (“Commission”) gives its clearance tomorrow morning to the proposed merger between Sky Network Television (“Sky”) and Vodafone NZ (“Vodafone”).

Following applications by Spark, 2 Degrees and Internet NZ, the Court has ruled that Sky and Vodafone are prohibited from completing the merger in reliance on any clearance by the Commission until midnight on the third day after the Commission has delivered the reasons for its decision to the applicants. A Court hearing on the matter was held earlier today.

“We and others believe the proposed merger will be bad for consumers – resulting in poorer choice and higher prices for consumers, especially when it comes to sports content. That was at the heart of our decision to take this Court action,” said Spark’s General Manager Regulatory Affairs, John Wesley-Smith.

“The stay is important for natural justice and fairness: as it will ensure all interested parties have a chance to properly consider the Commission’s reasoning and make informed decisions on whether to seek a judicial review if there is a clearance decision.

“Without this stay, there was a risk that Sky and Vodafone would immediately take steps to implement the merger and make it a fait accompli – which would render any future legal review a meaningless exercise.”

“We are grateful for the Court and Justice Lang for agreeing to an urgent hearing of the application and issuing a written judgment in an extremely short timeframe.

“We now await the Commission’s decision tomorrow morning (Thursday 23 February) on whether to clear the proposed merger.”

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>