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SKY NETWORK TELEVISION LIMITED. — M&A Activity 2017
Feb 15, 2017
65806_rns_2017-02-16_c1137269-1bc1-47f7-a829-b4a484f6747c.pdf
M&A Activity
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16 February 2017
Market Information Services Section
NZX Limited PO Box 2959 Wellington
Company Announcements Office ASX Limited Level 4, 20 Bridge Street Sydney, NSW Australia
SKY TV
PO Box 9059 Newmarket Auckland 1149 New Zealand
10 Panorama Road Mt Wellington Auckland 1060 New Zealand
T. +64 9 579 9999
sky.co.nz skybusiness.co.nz
Receipt of correspondence relating to timing of completion of proposed merger of SKY Network Television Limited (SKY) and Vodafone NZ businesses (Proposed Merger)
SKY and Vodafone have received letters from legal counsel representing Spark, Trustpower and InternetNZ ( Parties ) requesting assurances that SKY and Vodafone refrain from completing the Proposed Merger in the event that the New Zealand Commerce Commission ( NZCC ) gives its clearance, for a period of time that will enable the Parties to challenge the NZCC decision in court.
SKY and Vodafone have declined to provide the requested assurances. Counsel for Spark indicated in their letter that if the assurances are not provided they anticipate being instructed to seek an interim stay. SKY does not consider that there is any proper basis for seeking an interim stay from the courts and, should any party seek an interim stay, SKY intends to oppose any such application and seek an undertaking as to damages.
SKY has full confidence in the NZCC and its processes. In the event the NZCC provides clearance in respect of the Proposed Merger, SKY intends to proceed to completion in an orderly manner upon satisfaction or waiver of any outstanding conditions.
For further information please contact:
Jason Hollingworth
Chief Financial Officer SKY Network Television (09) 579 9999 021 312 928 [email protected]
Kirsty Way
Director of Corporate Communication SKY Network Television 021422794 [email protected]