No problem in 7’s grab for WAN: ACCC

Wednesday, 5 November, 2008 - 22:00

THE competition watchdog says it will not intervene in the acquisition of West Australian Newspapers Holdings Ltd shares by its largest shareholder and suspected predator, Seven Network Ltd. The broadcaster holds a 22.3 per cent stake in the newspaper publisher and has been using the creep provisions of the Corporations Act to lifts its interest without triggering a formal takeover.

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