Power New Zealand seeks clearance for Energy Direct bid
11 November 1994
Power New Zealand Limited has applied to the Commerce Commission for clearance of its bid to buy up to 100 percent of Energy Direct Corporation Limited shares.
Commission Deputy Chairman Warren Haddrell said the Commission will now study the application and gather the extra information it will need to make a decision. A clearance will be granted if the Commission is satisfied that Power New Zealand will not gain or strengthen a dominant position in any market.
A decision will be made within 10 working days. The 10 day period ends on November 24.
Media contact:Vince Cholewa, Communications Officer
Phone work (04) 471 0180, home (04) 479 1432