Coles Group Appeals ACCC's Rejection of Kalgoorlie Site Acquisition
MT Newswires Live
Jul 16
Coles Group (ASX:COL) lodged an appeal against the Australian Competition and Consumer Commission's (ACCC) decision to block its proposed purchase of a supermarket and liquor site in Kalgoorlie, Western Australia, according to a Wednesday filing with the Australian Competition Tribunal.
Following a phase two review, the ACCC said the acquisition might materially harm competition in the retail groceries space and likely lead to the exit of an independent full-line competitor from Kalgoorlie.
In its appeal, Coles said the regulator's decision was not "objectively correct or preferable."
The company's shares were down nearly 1% in recent Thursday trade.
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