Vodafone, Sky Call Off NZ Merger
Vodafone New Zealand and Sky TV have called off their proposed NZ$3.4 billion merger. The two companies have also told investors that they have withdrawn an appeal against a Commerce Commission decision regarding the proposed merger.
The competition regulator had declined to approve the merger in February of this year, citing concerns over access to premium sports content and the ability of the merged entity to bundle services to the detriment of other carriers.
Despite cancelling the merger, the two companies say they will continue to work together “to strengthen our commercial relationship for the benefit of the customers and shareholders,” Vodafone NZ and Sky said in a joint statement.