The Australian Competition and Consumer Commission (ACCC) has announced preliminary concerns about the proposed merger of APN Outdoor Group
(ASX:APO) and oOh!media Limited
(ASX:OML).
The ACCC says industry participants have concerns about the merger as it combines two the largest providers of out-of-home advertising in Australia and would squeeze competition out of the market.
The merger would create a market leader in out-of-home advertising and other areas like roadside billboards.
The ACCC will make a final decision on the proposed merger on 6 July 2017.
Shares in of APN Outdoor Group
(ASX:APO) are currently 4.78% lower to $5.18.
