Ruling on N.Z. Steel overturned
PA Wellington A Commerce Commission ruling against further New Zealand Steel, Ltd, shareholding in Pacific Steel, Ltd, has been overturned in the High Court at Wellington. The Court’s administrative division found the Commerce Commission was wrong in concluding that the New Zea’and Steel proposal would
reduce competition. New Zealand Steel and Pacific Steel operated in two distinct product markets. The court’s ruling was subject to one condition. It said that in the event of New Zealand Steel acquiring control of Pacific Steel, all products would have to be priced independently by New Zealand Steel
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Press, 12 June 1986, Page 26
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99Ruling on N.Z. Steel overturned Press, 12 June 1986, Page 26
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