ACCC not to oppose proposed acquisition of the Coles Group by Wesfarmers Limited.

0 Comments | M2 Presswire, August, 2007

M2 PRESSWIRE-22 August 2007-AUSTRALIAN COMPETITION AND CONSUMER COMMISSION: ACCC not to oppose proposed acquisition of the Coles Group by Wesfarmers Limited(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:22082007 The Australian Competition and Consumer Commission will not intervene in the proposed acquisition of the Coles Group by Wesfarmers Limited, ACCC Chairman, Mr Graeme Samuel, said today.

"The ACCC conducted a comprehensive review of the proposed acquisition, including extensive market inquiries with interested parties," Mr Samuel said. "While these market inquiries revealed some concern from certain market participants about overlap in LPG, hardware, and related sectors, following further analysis the ACCC concluded that there was not likely to be a...