14 December 2017
The ACCC has announced today that it intends to oppose the proposed acquisition by B P Australia Pty Ltd of Woolworths Limited’s (ASX:WOW) network of retail service station sites.
Woolworths currently operates 531 sites and has 12 sites in development. BP supplies fuel to approximately 1,400 BP-branded service stations throughout Australia, setting fuel prices at roughly 350 of them.
“We consider that BP acquiring Woolworths’ service stations will be likely to substantially lessen competition in the retail supply of fuel,” ACCC Chairman Rod Sims said.
In it's present form the deal WILL NOT go through ......
I think you need to take off those rose colored glasses......
News: WOW UPDATE 2-Australian watchdog blocks BP buy of Woolworths petrol stations, page-8
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