December 18, 2017 / 8:08 PM / a year ago

NZME says NZ High Court upholds move to block purchase of Fairfax unit

Dec 19 (Reuters) - NZME Limited, the owner of New Zealand’s top-selling newspaper, said on Tuesday that the country’s High Court upheld the competition regulator’s decision to block its purchase of Fairfax Media Limited’s New Zealand unit.

NZME said in a statement to the stock exchange it would review the full judgement when it was released, as well as the option to appeal the decision.

The appeal by NZME and Fairfax to the High Court was heard in October after the Commerce Commission barred the deal in early May, after considering it for almost a year.

Reporting by Aaron Saldanha in Bengaluru; Editing by Edmund Blair

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