Sky and Vodafone NZ terminate proposed merger

Company News

by Jessica Amir

Sky Network Television Limited (ASX:SKT) and Vodafone Europe B.V have terminated the sale and purchase agreement for the proposed merger of SKY and Vodafone New Zealand.

The pay TV provider says the parties decided to withdraw their appeal of the Commerce Commission’s decision regarding the proposed merger.

The deal would have involved Sky purchasing all of Vodafone New Zealand’s shares for $3.24 billion.

Despite the proposed merger not going ahead, the companies say they will continue to work together to strengthen their commercial relationship for the benefit of customers and shareholders.

Shares in Sky Network Television Limited (ASX:SKT) last traded 1.25 per cent higher to $3.24.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.