The Commerce Commission has released its timetable for making its decision on the proposed Stagecoach/Yellow Bus Company business acquisition.

Stagecoach Holdings plc UK subsidiary, New Zealand Bus Limited, has applied for authorisation to acquire Transportation Auckland Corporation Limited, which trades as the Yellow Bus Company.

The Commission's timetable is:

April 2 Commission registered application.

May 11 Commission to issue draft determination giving its preliminary views and detailing the areas in which it wants further information.

By May 25 Interested parties to make submissions on draft determination.

During week starting June 8 Conference to allow interested parties to give further information and the Commission to ask questions. Dates and venue to be advised.

By June 30 Commission to issue decision.

The Commission runs its authorisation process as transparently as possible. The application, draft determination and decision are public documents. The public can observe, and journalists report, the conference, though only interested parties can participate.

Submissions from interested parties are available publicly after all submissions have been received. Commercially sensitive information may be deleted from public copies if requested by the authors.

The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets.

Parties can apply to the Commission for a clearance or an authorisation. A clearance is granted if the Commission is satisfied that dominance is not acquired or strengthened. An otherwise prohibited acquisition can still be authorised if the Commission is satisfied that its public benefits outweigh its detriments to competition.

In December last year Stagecoach applied for clearance to acquire the Yellow Bus Company. The Commission declined to clear the proposal. Stagecoach has appealed that decision to the High Court and has also applied for authorisation.

Media contact: Chief Investigator Business Acquisitions John Preston

Phone work (04) 498 0933

Communications Officer Vincent Cholewa

Phone work (04) 498 0920

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