Business Services Industry
Toll wants 15pc rise for freight.
Australasian Business Intelligence, July, 2006
Byline: James Hall
Jul 19, 2006 (The Australian Financial Review - ABIX via COMTEX) -- The large Australian transport group, Toll, got bigger when it bought rival, Patrick. At the time, the Australian Competition & Consumer Commission (ACCC) approved the takeover, on condition that Toll divest some assets. Toll has asked customers to accept price rises of up to 15% on its Pacific National (PN) rail freight network. Toll is selling the 50% of PN owned by Patrick as part of its pledge to the ACCC. The 15% price rise could be seen as a test for ACCC chairman, Graeme Samuel, in terms of competition regulation. Samuel noted that he is watching Toll carefully. A number of groups have bid to buy the half-stake in PN on offer.
Publication Date: 20 July...
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