You are using an older browser version. Please use a supported version for the best MSN experience.

Sky TV-Vodafone merger declined

NZ Newswire logoNZ Newswire 22/02/2017
Vodafone © Getty Images Vodafone

A merger between Sky TV and Vodafone has been blocked by the business watchdog.

The Commerce Commission has announced it has declined to approve a plan that would have seen the two companies merge into the country's largest telecommunications and media group.

Under the deal, Sky TV would have bought Vodafone New Zealand for $3.4 billion in cash and shares, leaving Vodafone Europe with a 51 per cent stake in Sky.

Spark and 2Degrees have opposed the merger, saying it would hurt consumers by creating a company willing and able to use premium live sports content to stifle competition.

image beaconimage beaconimage beacon