Australian Regulator To Rule On Foxtel Bid For Austar Nov 30

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; [e-mail]