TeamTalk applies for clearance to acquire Telecom's paging and mobile radio businesses
Published10 Nov 1999
The Commerce Commission has received an application from Wellington-based telecommunications company, TeamTalk Limited, for clearance to acquire Telecom New Zealand Limited's paging and mobile radio businesses.
The Commission's Commerce Act Manager, Geoff Thorn, said that the proposed acquisition does not include any of Telecom's cellular businesses.
TeamTalk has proposed to acquire the assets, which comprise Telecom's paging services, private mobile radio business, trunked mobile radio business and related equipment leasing business.
Mr Thorn said that the Act gives the Commission 10 working days in which to make a decision, but does allow for extensions of time if necessary. Working day 10 would be November 23.
The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any markets. Parties can apply for a clearance, which the Commission will grant if it is satisfied that dominance is not acquired or strengthened.
A clearance, if granted, protects an acquisition from court action under the Act.
Copies of TeamTalk's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.
