A proposed merger of two consumer payments firms in New Zealand won't proceed after the Commerce Commission resolved to block the deal.
epay New Zealand was seeking to take over Ezi-Pay. Both epay and Ezi-Pay manage the recharge of mobile phone accounts and gift cards.
Epay is a subsidiary of Euronet Worldwide. Ezi-Pay was founded in Wellington, in 2003.
The Commission wrote in a short announcement on Friday that it was concerned the acquisition might substantially lessen competition in the pre-paid mobile phone recharge market.
No such objections applied...
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