Vodafone makes formal application
Vodafone New Zealand has formally applied to the Commerce Commission to take over TelstraClear.
Details of the application were set out in a 81-page document published by the commission, but with many details, including the actual contract, blanked out for reasons of commercial confidentiality.
Vodafone said the acquisition would "not substantially lessen competition in any market". It would continue to wholesale its mobile service to competing retailers such as Orcon and the takeover would increase its own incentives to unbundle more Chorus phone exchanges, it said.
Vodafone has said Telstra had agreed not to re-enter the New Zealand market and compete against it for an undisclosed period.
Sources speculated the non-compete clause was likely to be in force for a period of between two and five years after the takeover was confirmed.