SKY and Vodafone launch High Court appeal in NZ

Company News

by David Chau

SKY Network Television (ASX:SKT) and Vodafone have confirmed they are filing appeals today in the New Zealand High Court against an unfavourable decision by the New Zealand Commerce Commission (The Commission).

The Commission decided not to clear the companies’ proposed merger of their operating businesses in New Zealand.

The Commission says it needed to be satisfied that the proposed merger would not be likely to lessen competition in the broadband and mobile telecommunications markets in New Zealand. Needless to say, the two companies were not able to convince the Commission on that point.

The Commission’s detailed reasons are expected to be released in the coming weeks.

Yesterday, Sky Network shares closed 0.62% lower at $3.21

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.