News: SKT NZ's Sky and Vodafone hold off on cancelling deal contract

WELLINGTON, March 1 (Reuters) - Sky Network Television (SKT) will not yet cancel its agreement to buy Vodafone's New Zealand unit after the country's competition regulator rejected the proposal, the firms said in a stock exchange statement.

The sale and purchase agreement allowed either company to cancel the deal if it had not been completed by Feb. 28, but both firms said in a statement from Sky they were not planning to terminate the contract.