A letter of issues is sent if, following initial investigations, the Commission has concerns about potential competition issues that may arise from the proposed acquisition. A letter of issues is not a final decision and does not mean that the Commission intends to decline or clear an acquisition.

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 19 September 2018. Submissions can be sent by email to registrar@comcom.govt.nz with the reference “Thales/Gemalto” in the subject line.


Thales S.A. has sought clearance from the Commission to acquire all of the issued and outstanding ordinary shares of Gemalto N.V. The clearance application relates to the extent the proposed acquisition affects markets in New Zealand.

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.