News: TCL Australian regulator opposes Transurban's Horizon Roads acquisition

Sept 21 (Reuters) - Australia's competition regulator on Thursday opposed plans of Transurban Group (TCL) , the country's largest toll road operator, to acquire a majority interest in Horizon Roads, citing the deal would substantially lessen competition.

Under the deal, Transurban was seeking to acquire a majority interest in Horizon Roads, which holds a concession from the State of Victoria to operate the 39-kilometre-long EastLink toll road in Melbourne until November 2043.

"The proposed acquisition would result in Transurban entrenching its position in Victoria, and prevent the entry of a rival operator, which could compete closely for future toll road concessions in Victoria," Australian Competition and Consumer Commission (ACCC) Chair Gina Cass-Gottlieb said.

Transurban, in a separate statement, noted the ACCC's decision "with disappointment", and said it will consider all options available to it.