Mercury Energy has applied to the Commerce Commission for clearance of its bid to buy up to 100 percent of Power New Zealand shares.
Commission Deputy Chairman Warren Haddrell said the Commission will now study the application and gather the extra information it will need to make a decision. A clearance will be granted if the Commission is satisfied that Mercury will not gain or strengthen a dominant position in any market.
The normal deadline of 10 working days has been extended to 20 working days to allow adequate time for consultation with various industry participants and to consider the issues involved
Media contact:Vince Cholewa, Communications Officer
