Franklins sale to Metcash delayed further
The Australian Competition and Consumer Commission (ACCC) has delayed its decision on the proposed sale of Pick n Pay-owned supermarket chain Franklins to Metcash.
The announcement, which was due to be released today, has been pushed back until 18 November.
The A$215m (US$203.9m) deal has faced close ACCC scrutiny as the competition watchdog is concerned that the deal would mean Metcash would have “significantly greater unilateral market power”.
A Pick n Pay spokesperson said that it knew of the postponement “some time back”, but would not be drawn into the reasons behind the delay.
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