The Commerce Commission and Telecom have agreed to a further extension of time before the Commission decides on a proposal which would give Telecom a 25 percent shareholding in Sky.
Telecom wants to acquire a 49 percent interest in the HKP Partnership of New Zealand, which owns 51 percent of Sky.
Commission Chairman Dr Alan Bollard said Telecom has applied to the Commission for clearance. A clearance is granted where the Commission is satisfied that dominance is not gained or strengthened through an acquisition.
Dr Bollard said analysis of the proposal is proving more complex than originally expected. The Commission has asked Telecom to agree to an extension so further information can be gathered and studied before it makes a decision. The Commission also proposes to hold a conference to assist it in making a decision. Telecom has agreed to the extension.
A decision is expected to be made by September 26.
The Commission's planned timetable is:
August 21: release a paper setting out the Commission's reasoning to date and explaining what areas it needs to consider further
September 4: last day for submissions on the Commission's paper
September 14-15: hold a conference of interested parties in Wellington
September 26: release decision
Media contact:Communications Officer, Vincent Cholewa
