The Commerce Commission today received an application from Stagecoach Holdings plc subsidiary, New Zealand Bus Limited, for clearance to acquire Transportation Auckland Corporation Limited, which trades as The Yellow Bus Company.

Commission Chairman Dr Alan Bollard said that the Commission expects to make its decision by January 30.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets. The Commission will clear a proposed acquisition if it is satisfied that dominance is not acquired or strengthened.

The Commission must determine what are the relevant markets and how the acquisition, it were to go ahead, would impact on competition in those markets.

A clearance, if granted, protects an acquisition from court action under the Act.

The Act gives the Commission 10 working days to make a decision, but allows for extensions of time if necessary. An extension has been agreed to in this case.

Public copies of New Zealand Bus Limited's application are available from reception at the Commission's Wellington office, level 7, Landcorp House, 101 Lambton Quay.

Media contact: Commerce Act Manager Jo Bransgrove

Phone work (04) 498 0958

Communications Officer Vincent Cholewa

Phone work (04) 498 0920

Commission media releases can be viewed on its web site www.comcom.govt.nz