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New Zealand competition regulator clears Vocus, M2 telecoms merger

( December 4, 2015, 06:33 GMT | Official Statement) -- New Zealand's Commerce Commission has cleared Vocus Communications’ application to acquire M2 Group, it announced today. ZDNet reported that, once merged, the two Australia-based companies would be worth A$3 billion ($2.2 billion), becoming the third-largest telco provider in New Zealand. Commission Chairman Mark Berry said Vocus and M2’s services overlapped only minimally and there would continue to be strong competition from Vodafone, Spark and Chorus in the affected markets. The commission also concluded that the merged entity would not be able to foreclose competitors, nor would it have the ability to significantly raise rivals’ costs or its own prices, or reduce service quality.  The regulator's statement follows:...

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