ComCom's competition concerns over Vero's Tower bid pushes out decision deadline

Thu, 29 Jun 2017

By Paul McBeth June 30 (BusinessDesk) - The Commerce Commission has delayed its decision on whether Australian-owned Vero Insurance New Zealand will be allowed to buy NZX-listed rival Tower after raising some competition concerns about the proposed deal. The antitrust regulator pushed out its deadline to July 26 after Suncorp Group-owned Vero asked for more time to respond to a letter from the commission outlining areas where the watchdog has some issues. The deal has already got the blessing of Tower's board after Vero raised its offer...

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