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Trade Me's move on online peer PropertyNZ can proceed, following New Zealand clearance

( August 5, 2021, 09:08 GMT | Official Statement) -- MLex Summary: New Zealand online marketplace and classified advertising platform Trade Me’s plans to acquire PropertyNZ, which owns and operates homes.co.nz, can move forward, with the country’s competition regulator announcing today that it had cleared the deal. In a statement, the New Zealand Commerce Commission said that while it had previously highlighted concerns that the deal could make it harder for other property platforms to enter the market, it was now satisfied that the proposed acquisition wasn’t likely to substantially lessen competition in any market. “[E]vidence received since we issued our statement of unresolved issues has satisfied us [that] Homes is unlikely to become a significant competitor for real estate listings,” Commerce Commission Chair Anna Rawlings said in today’s statement.The full statement by the New Zealand Commerce Commission follows: ...

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