The Commerce Commission has released a Statement of Unresolved Issues relating to Trade Me Limited’s application for clearance to acquire PropertyNZ Limited.
PropertyNZ Limited owns and operates the homes.co.nz website, while Trade Me owns and operates the Trade Me Property website.
The Statement of Unresolved Issues outlines the Commission’s potential competition issues with the acquisition following its initial rounds of investigations. The Statement of Unresolved Issues is not a final decision and does not mean that the Commission intends to decline or clear the acquisition.
The Commission is seeking submissions from Trade Me, PropertyNZ and other interested parties on the issues raised in the Statement of Unresolved Issues.
The Statement of Unresolved Issues can be found on the Commission’s case register. Submissions can be sent by email to registrar@comcom.govt.nz with the reference ‘TradeMe/Homes’ in the subject line.
Submissions are due no later than close of business on 14 July 2021, with cross-submissions due no later than close of business on 21 July 2021.
The Commission is currently scheduled to make a decision on the application by 6 August 2021. However, this date may be extended.
Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
