ACCC decision on Transurban’s acquisition of WestConnex delayed

Company News

by Anna Napoli

Transurban’s (ASX:TCL) proposed acquisition of the WestConnex motorway in NSW remains up in the air after the ACCC today announced a delay in its decision.

The decision date for the for the review was today, the 19th of July, this has now been delayed until the 6th of September.

ACCC Chairman, Rod Sims said that the WestConnex is an unusually large toll road project and as a result the regulator is dealing with unusually complex competition issues that require more time to consider.

Transurban is Australia’s largest toll road operator and currently holds seven of all nine told concessions in NSW.

Shares in Tranurban (ASX:TCL) are trading 0.17 per cent lower to $11.96

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.