News | Technology
28 Jun 2017 1:59
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Technology

    Spark weighs options after Sky rejection

    Spark is considering its next move after Sky said it won't delay a planned merger with Vodafone to allow for appeals if the deal gets regulatory approval.


    Spark is considering its next move after Sky Television said it won't delay a planned merger with Vodafone for a few days to allow for appeals if the deal gets regulatory approval next week.

    The Commerce Commission is scheduled to make a decision on the deal on February 23, with the companies set to create the country's largest telecommunications and media group, with Sky TV buying Vodafone NZ for $3.44 billion, funded by a payment of $1.25 billion in cash and the issue of new Sky TV shares at a price of $5.40 per share.

    Vodafone becomes a 51 per cent majority shareholder in Sky TV, in what amounts to a reverse takeover. The pay-TV operator will borrow $1.8 billion from Vodafone to fund the purchase, repay existing debt and use for working capital.

    Spark, Trustpower and Internet New Zealand on Thursday asked the firms to hold off completing the merger for a few days if the regulator signed off to give them time to weigh up the decision and lodge an appeal, something Sky TV rejected.

    Simon Moutter, Spark chief executive, told an analyst briefing he is considering options after that rejection.

    Spark objects to the merger on the grounds that it would restrict access to popular sports coverage, and that an effective wholesale regime is necessary to prevent the monopoly position shifting into another market, he said.

    Commerce Commission approval has been delayed several times. In October the regulator raised concerns about what impact the deal would have on competition in the market, saying while consumers may benefit from cheap services at first, other broadband and mobile providers could lose the ability to build scale in their businesses and become weaker rivals.

    Sky said it didn't see "any proper basis for seeking an interim stay from the courts" and would oppose any application.


    NZN




    © 2017 NZN, NZCity


     Other Technology News
     26 Jun: NZ shares rise in light volume trade
     25 Jun: Moeraki Boulders gets speed control
     24 Jun: All Blacks app launches for Lions test
     21 Jun: Doctors back med students' loan complaint
     19 Jun: Medical student loans 'abysmal': lobby
     17 Jun: Internet Party leader based in Russia
     14 Jun: E3 2017: A new Xbox, some VR goodies and Nintendo wasn't afraid to get weird
     Top Stories

    RUGBY RUGBY
    Foster sticks up for under-fire 'Gatty' More...


    BUSINESS BUSINESS
    Kiwifruit industry to create 29,000 jobs More...



     Today's News

    Rugby League:
    Knights throw SKD a lifeline 21:57

    Entertainment:
    Charlie Sheen is being sued for allegedly exposing an ex-lover to HIV 21:36

    International:
    PNG election: Port Moresby official arrested hours after voting suspended in capital 21:27

    International:
    What led to Uber's CEO Travis Kalanick stepping down? 21:27

    International:
    Islamic State: The US volunteer saving civilian lives on the frontlines 21:27

    Law and Order:
    Search fails to locate Southland fisherman 21:17

    Entertainment:
    Sheryl Crow finds dating "hard work" 21:06

    Entertainment:
    'Orange is the New Black' star Taylor Schilling rarely gets recognised in public 20:36

    Entertainment:
    Paris Jackson has gotten a tattoo in tribute to her late father 20:06

    Entertainment:
    Liam Gallagher says his brother Noel's ego is "out of control" 19:36


     News Search






    Power Search


    © 2017 New Zealand City Ltd