Telecom Cleared to Acquire Radio Spectrum Management Rights

WELLINGTON -(Dow Jones)- The New Zealand Commerce Commission Friday said it approved Telecom Corp. of New Zealand's bid to acquire the management rights for radio frequency spectrum that could be used for advanced mobile and broadband services.

The radio spectrum range, between 2520 and 2540 gigahertz and an associated 2640 to 2660 GHz band, was auctioned by the Ministry of Economic Development in late 2007.

Commerce Commission Chairwoman Paula Rebstock said the competition regulator was satisfied the proposed acquisition would not likely lessen competition substantially in any of the relevant markets - or inhibit the development of WiMAx broadband or 3G cellular services.

The former state-owned Telecom, New Zealand's largest fixed-line phone company, is currently in the process of splitting into three separate units and opening its copper wire network to rivals as part of new regulation designed to foster competition in the sector.

-By Symon Ross, Dow Jones Newswires; 64-4-471-5990; symon.ross@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 6th March 2008