Ann: NZM: Fairfax NZ merger process and NZME results date, page-3

You seem quite optimistic about the merger being authorised by the CCNZ (although I note your mixed feelings about that outcome). I am more skeptical, given that the draft determination by the CCNZ was that it would likely decline authorisation. You may know the regulatory landscape in NZ better than me (that would not be hard). Does the CCNZ often change its position from draft determination to final determination? Do you think the submissions after the DD are compelling?