(Adds competition regulator review, share movement)
July 23 (Reuters) - Australian No. 1 toll road operator Transurban Group (TCL) said on Monday it has bid for a 51 percent stake in the country's biggest transport infrastructure project, a A$16.8 billion ($12.4 billion) tollway through the middle of Sydney.
Transurban said that Sydney Transport Partners, a consortium it is part of, made the offer for a controlling stake in the government entity building the so-called WestConnex despite the antitrust regulator's concerns that the deal may be bad for toll-paying motorists.
The Australian Competition and Consumer Commission raised initial concerns in May over the effects of the acquisition on inter-toll road competition.
Last week it delayed a decision on the review to September, saying it required more time to consider "competition issues" regarding the acquisition.
"Transurban remains confident that it will obtain all necessary approvals," the company said in a statement.
Shares of the company were about 0.2 percent lower at 0041 GMT, in line with the benchmark index (xjo) .
($1 = 1.3463 Australian dollars)
News: TCL UPDATE 1-Australian Transurban-led consortium bids for WestConnex motorway
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Last
$13.65 |
Change
0.080(0.59%) |
Mkt cap ! $42.42B | |||
| Open | High | Low | Value | Volume |
| $13.56 | $13.71 | $13.48 | $58.84M | 4.312M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $13.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.66 | 2110 | 1 |
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| Last trade - 16.13pm 23/07/2025 (20 minute delay) ? |
| TCL (ASX) Chart |