Commerce Commission declines to clear the proposed merger

SKY Network Television Ltd (SKY) and Vodafone Group Plc have today been advised by the New Zealand Commerce Commission of its decision not to clear the two companies' proposed merger of their operating businesses in New Zealand. Following its review of the merger application and subsequent submissions, the New Zealand Commerce Commission concluded that it cannot be satisfied that the merger would not substantially lessen competition. SKY Chief Executive John Fellet commented, "This is a very disappointing conclusion to a merger we saw as enhancing New Zealand's communications and media landscape. From here we will continue to strive to deliver innovative ways to curate and deliver entertainment to all of New Zealand." For further information please contact: Jason Hollingworth Chief Financial Officer SKY Network Television (09) 579 9999 021 312 928 jhollingworth@skytv.co.nz End CA:00297269 For:SKT Type:MERGER Time:2017-02-23 08:46:54