The Commerce Commission has sent a Letter of Issues to Ingenico Group SA in relation to its proposed acquisition of Paymark Limited.
The letter outlines that, at this stage, the Commission is not satisfied that the acquisition would not be likely to have the effect of substantially lessening competition.
A letter of issues is sent, if following initial investigations, the Commission has concerns about potential competition issues that may arise from the proposed merger. A letter of issues is not a final decision and does not mean that the Commission intends to decline or clear a merger.
A copy of the letter has been published on the Commission’s website. Other interested parties may make submissions on the issues outlined in the letter if they wish to.
Submissions are due no later than Wednesday 25 July, with any cross-submissions due no later than Wednesday 1 August.
Ingenico Group SA has sought clearance from the Commission to acquire 100% of the shares in Paymark Limited.
The Commission will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.