Australian Regulator To Rule On Foxtel Bid For Austar Nov 30
14 Octobre 2011 - 4:54AM
Dow Jones News
Australia's competition regulator said Friday that it will
release its findings on Foxtel's proposed 1.90 billion Australian
dollar ($1.93 billion) bid for Austar United Communications Ltd.
(AUN.AU) on Nov. 30.
Foxtel's bid for its pay television rival hit a hurdle last
month when the Australian Competition and Consumer Commission
issued a statement of issues saying the deal "is likely to result
in a substantial lessening of competition" in the pay-TV services
market, the market for TV content, and several markets for
telecommunications products in Australia.
The statement of issues was the regulator's preliminary view. It
called for further information from the parties ahead of making its
final decision and said on its website that it received that
information Friday.
Foxtel is Australia's leading pay television company with more
than 1.65 million homes connected. The company is 50% owned by
Australian telecommunications giant Telstra Corp. (TLS) and 25%
each by Consolidated Media Holdings Ltd. (CMJ.AU) and News Corp.
(NWS), the owner of this newswire.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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