(Adds Sky comment on no basis for seeking interim stay from
WELLINGTON Feb 16 Sky Network Television
said if it gets regulatory clearance to buy Vodafone's
New Zealand unit it will not hold off on the deal to
give rival Spark NZ time to challenge the regulator's
decision in court, as requested.
Sky, in a statement to the stock exchange on Thursday, said
a number of parties including Spark and Trustpower had
sent it a letter asking it to hold off on the transaction if the
Commerce Commission ruled in its favour so that they could
initiate court proceedings.
The Commerce Commission is due to rule on the proposed
NZ$1.3 billion ($938 million) takeover on Feb. 23 and has
previously cited concern the deal would dampen competition from
rival broadband and mobile providers.
Spark has been vocal in its opposition to the deal, saying
that Sky's monopoly on premium sports content rights in New
Zealand is a key concern.
Spark had said in the letter to Sky that it would seek an
interim stay from the courts if Sky did not provide assurances
that it would hold off on the deal.
"Sky does not consider that there is any proper basis for
seeking an interim stay from the court," Sky said in its
statement, adding that it would oppose any interim stay
application and request damages.
($1 = 1.3866 New Zealand dollars)
(Reporting by Charlotte Greenfield; Editing by Susan Fenton)