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The Australian Competition and Consumer Commission (ACCC) says it will not allow 80 Franklins stores to be sold to Coles and Woolworths, if it successfully blocks Metcash Ltd’s (ASX:MTS) $215 million acquisition. That’s according to the Australian Financial Review.
Lawyers for the ACCC say if the Franklins stores were not sold to Metcash they would not fall into the hands of the rival supermarket chains.
The consumer watchdog claimed the deal is likely to lessen competition if it goes ahead. The consumer body applied to the Federal Court late last year for an injunction to stop the sale.
Metcash has also cut its full-year earnings guidance by almost half because of ongoing price deflation, rising interest rates and natural disasters.
For the half year ended 30 October 2010, Metcash reported a net profit of $113.2 million.
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Last
$3.90 |
Change
-0.010(0.26%) |
Mkt cap ! $4.286B | |||
| Open | High | Low | Value | Volume |
| $3.92 | $3.95 | $3.90 | $21.10M | 5.426M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 29964 | $3.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.93 | 7522 | 1 |
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| Last trade - 16.10pm 19/09/2025 (20 minute delay) ? |
| MTS (ASX) Chart |