Mystery Fairfax NZ suitors tight-lipped

The mystery bidders for Fairfax Media’s New Zealand operations are opting to stay quiet until the Commerce Commission has decided whether to allow the media firm to merge with NZME.

‘‘They see no reason to comment [until then]. It’s of no commercial benefit,’’ an investment banker said, having asked the bidder for comment.

The banker, who did not want to be identified, said his firm was not acting on their behalf and had merely made an introduction to Fairfax Australia for the consortium.

Fairfax Australia confirmed on Thursday that an unnamed party had expressed interest in buying its New Zealand operations, but said it was not in discussions as it was focused on the NZME merger.

‘‘The letter contains no offer capable of acceptance and Fairfax is not engaged in any discussions in relation to the letter,’’ Fairfax said.

The company did not say how much the offer was for, but the National Business Review reported it was made in late November for up to $120 million if a proposed merger with NZME fails.

The offer followed a two-day conference at which Fairfax and NZME responded to Commerce Commission questions on the merger proposal. It wanted to know how editorial independence could be guaranteed.

The commission said in a draft ruling in November it proposed to decline the merger, primarily because of concerns about media diversity, though it is not expected to finalise its decision until March. That is when the unnamed bidders might go public.