FlyingPig and TheSpot walk away from deal

FlyingPig.co.nz has called off its merger with Australian e-tailer TheSpot.com.au but says it is still eyeing trans-Tasman opportunities.

FlyingPig.co.nz has called off its merger with Australian e-tailer TheSpot.com.au.

The planned merger was announced early last month, but FlyingPig issued a statement yesterday saying that "conditions agreed to by the two parties were not able to be satisfied and as a result the parties had agreed not to proceed with the merger in its present form."

FlyingPig.co.nz executive chairman Stefan Preston said the company was still interested in expanding across the Tasman and would be "pursuing other opportunities in this direction now that this particular avenue is closed."

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