The NZCC has issued the following media releases:
Mergers and acquisitions
SkyCity granted clearance to acquire Otago Casinos
The NZCC has cleared SkyCity Entertainment Group Limited to acquire Otago Casinos Ltd. The proposed acquisition would result in SkyCity owning both casinos in Queenstown, SkyCity in the CBD and Otago Casinos at the Queenstown wharf.
PropertyIQ seeks clearance to acquire Terralink
The NZCC has received an application from PropertyIQ NZ Limited seeking clearance to acquire the business and assets of Terralink International Limited.
NZCC opens investigation into Wilson Parking's acquisition of assets of Tournament Parking
The NZCC has opened an investigation into Wilson Parking New Zealand Limited's acquisition of Tournament Parking Limited's parking assets. The NZCC will consider whether the acquisition is likely to have resulted in a substantial lessening competition in any relevant market.
NZCC determines 26 companies liable for telecommunications levy
The NZCC has released its determination of the amounts 26 telecommunications providers will pay towards the $50 million Telecommunications Development Levy (TDL) for 2011/12. The government uses the annual levy to pay for telecommunications infrastructure including the relay service for the deaf and hearing-impaired, broadband for rural areas, and improvements to the 111 emergency service.
Money lending car dealer fined $22,000
An Auckland-based car dealer has been fined $22,000 and ordered to pay $2,000 reparation in the Auckland District Court after admitting to a number of charges including misleading customers, selling unnecessary warranties, and charging higher interest rates than those agreed. In one case, he charged a customer over 60% interest on a car loan – 35% higher than the rate agreed.