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Australian consumer watchdog opposes BP's buy of Woolworth service stations

Reuters - UK Focus

Dec (Shanghai: 600875.SS - news) 14 (Reuters) - The Australian Competition and Consumer Commission on Thursday said it would oppose the acquisition of Woolworths Ltd's network of retail service station sites by oil and gas company BP Plc.

"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, after the regulator had delayed the consideration of the deal in November, having flagged its concerns in August. (Reporting by Susan Mathew in Bengaluru, editing by G Crosse)