The Commerce Commission has received a clearance application from Trade Me Limited seeking clearance to acquire 100% of the shares or assets of PropertyNZ Limited, which owns and operates the homes.co.nz website.
Trade Me owns and operates an online marketplace and classified advertising platform, trademe.co.nz. This includes Trade Me Property, an online platform for listing real estate for sale and rent. Trade me also provides property information and data through its "Property Insights" microsite, and sells digital advertising services to advertisers, including real estate agents.
The Homes.co.nz website is also a platform for listing real estate for sale, and provides property information and data. Like TradeMe Property, PropertyNZ sells digital advertising services to advertisers, including real estate agents.
A public version of the clearance application will be available shortly on the Commission's case register.
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.
