skytv.jpg Sky TV shares have taken a sharp fall this morning following a Commerce Commission decision to deny its merger with Vodafone. Photo: NZ HeraldSky TV shares fell sharply as soon as the NZX opened this morning following the announcement the Commerce Commission had turned down the proposal for the pay-TV company to merge with Vodafone NZ. Forsyth Barr broker Damian Foster said the shares opened at $3.60 after closing on Wednesday at $4.47. The market had wiped off $340 million in value from Sky TV after the share price fell 20% in two days. Sky TV and Vodafone would be competitors in the ever-changing market for communications services, following the deal being declined.

Source: Otago Daily Times February 22, 2017 21:14 UTC