Thursday, 28 March 2024

Announcement

MERGER: SKT: Receipt of correspondence relating to proposed merger

16 Feb 2017 08:53NZX
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
jhollingworth@skytv.co.nz

Kirsty Way
Director of Corporate Communication
SKY Network Television
021422794
kway@skytv.co.nz
End CA:00296848 For:SKT    Type:MERGER     Time:2017-02-16 08:53:58
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