WELLINGTON, Nov 28 (Reuters) - Media company NZME NZN.NZ said on Monday that it had responded to the New Zealand Commerce Commission's concerns over its proposed takeover of Fairfax New Zealand and that the regulator had not considered the competition digital news outlets would provide.
NZME said that it would wait to get shareholder approval for the proposed deal until the Commerce Commission made a final decision in March.
Under the plan, NZME, owned by Australian media company APN News & Media APN.AX , would pay NZ$55 million ($40.3 million) for Fairfax's FXJ.AX New Zealand operations and issue new shares to allow Fairfax to hold a 41 percent share in the new listed entity.