WELLINGTON (Reuters) - A New Zealand court on Wednesday ruled that a 36-hour pause must take place before Sky Network Television (SKT.NZ) can buy Vodafone’s New Zealand unit (VOD.L) if the competition regulator approves the deal.
Rival telecommunications company Spark (SPK.NZ) on Monday asked the court to consider imposing the pause, saying it would provide companies “breathing space” to understand the regulator’s reasoning.
Sky said it was considering the implications of the ruling.
The Commerce Commission is due to rule on the proposed NZ$1.3 billion ($933 million) takeover on Feb. 23 and has previously cited concern the deal would dampen competition from rival broadband and mobile providers.
Shares in Sky TV were halted, having fallen 2.7 percent, while shares in Spark edged up 0.6 percent.
Reporting by Charlotte Greenfield; Editing by Himani Sarkar