Trade Me deal okay

The Commerce Commission does not intend investigating the purchase by Fairfax of the internet auction house Trade Me.

Trade Me has taken much of its business from the classified advertisements sections of the newspapers owned by Fairfax, which bought the company for $700 million.

The commission said it considered that "based on the information before it, the acquisition is unlikely to raise competition issues".

Fairfax did not apply to the commission for clearance for the acquisition before the purchase.

The Commerce Act prohibits mergers or acquisitions that would lessen competition in a market.