MEDIA RELEASE
12 August 2022
Woolworths’ acquisition of MyDeal not opposed
The ACCC will not oppose Woolworths’ (ASX: WOW) proposed acquisition of online retailer
MyDeal (ASX: MYD).
Woolworths, through its Big W stores and supermarkets, and MyDeal, through its online
marketplace, sell a variety of general merchandise products to consumers including
furniture, health and beauty products, homewares and electronics.
In addition to retailing their own products, Woolworths and MyDeal also operate online
marketplaces which are used by third-party sellers to retail products online. MyDeal operates
the MyDeal platform, and Woolworths operates Everyday Market from Woolworths.
The ACCC’s review examined online retail competition and competition between third-party
marketplace platforms.
“Following our review and feedback from market participants, we do not consider that
Everyday Market from Woolworths is a significant competitor to MyDeal or other online
marketplaces and consequently, this acquisition is unlikely to substantially lessen
competition,” ACCC Commissioner Liza Carver said.
The ACCC also found it was unlikely that Woolworths’ retail position could be leveraged into
MyDeal’s online sales marketplace in an anti-competitive way.
“Woolworths would continue to face significant competition from online marketplace
platforms available to third-party sellers,” Ms Carver said.
- Forums
- ASX - Day Trading
- Day trading pre-market open August 12
MEDIA RELEASE12 August 2022Woolworths’ acquisition of MyDeal not...
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
NEWS
Gold nuggets unearthed at Comet Well ahead of drilling! Discoveries continue as exploration ramps up
RCE
Phase II clinical trial recruitment for R327G topical gel passes halfway, showing promising results against bacterial skin infections
Featured News
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online