The Commerce Commission and Mercury Energy Limited have agreed to extend the deadline for a decision on Mercury's application for clearance to buy up to 100 percent of Power New Zealand Limited shares.
Commission Chairman Alan Bollard said the deadline has been extended by 10 working days from today to December 12.
Dr Bollard said the Commission needed more time to consider the matter.
Under the Commerce Act, a business acquisition is cleared if the Commission is satisfied that no one will gain or strengthen a dominant position in any market.
Media contact:Vince Cholewa, Communications officer
