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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Seven Group Holdings Limited | ASX:SVW | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.08 | -0.21% | 37.38 | 37.38 | 37.39 | 37.56 | 37.07 | 37.40 | 186,579 | 05:25:30 |
From Jun 2019 to Jun 2024
By Ross Kelly
SYDNEY--Australia's competition regulator said Thursday it would oppose any move by Seven Group Holdings Ltd. (SVW.AU) to launch a takeover bid for cable television investor Consolidated Media Holdings Ltd. (CMJ.AU).
The regulator's decision removes a possible rival bidder for Consolidated Media, which is already the subject of a 1.94 billion Australian dollar (US$1.98 billion) offer from News Corp. (NWS), owner of this newswire.
The Australian Competition and Consumer Commission, or ACCC, first expressed reservations about a Seven Group move in a preliminary assessment last month.
Seven is an investor in Seven Network, Australia's most popular free-to-air television channel. Consolidated Media owns 25% of pay television company Foxtel and 50% of Fox Sports.
"The ACCC concluded that the proposed acquisition is likely to result in a substantial lessening of competition in the market for free-to-air television services," the regulator said in a statement.
Write to Ross Kelly at ross.kelly@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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