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.