Stock Track | Coles Group Plummets 5.09% Intraday After ACCC Opposes Kalgoorlie Supermarket Acquisition

Stock Track

Jul 01

Coles Group Ltd (COL.AU) saw its shares plummet 5.09% during intraday trading on Wednesday following regulatory opposition to its expansion plans in Western Australia.

The Australian Competition and Consumer Commission (ACCC) announced it opposes Coles' proposed acquisition of a leasehold for a new supermarket and liquor site in the Kalgoorlie-Boulder area. The regulator stated the deal would "materially harm competition in the retail groceries space" and likely "lead to the exit of an effective independent full-line competitor" in the region.

Coles disclosed the acquisition of the leasehold interest in November 2025 with plans to open a large format supermarket and a Liquorland store at the currently vacant site. A Coles spokesperson expressed disagreement with the ACCC's decision, stating that blocking the development "does not promote competition" and denies shoppers greater choice and convenience.

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The regulator stated the deal would \"materially harm competition in the retail groceries space\" and likely \"lead to the exit of an effective independent full-line competitor\" in the region.</p><p>Coles disclosed the acquisition of the leasehold interest in November 2025 with plans to open a large format supermarket and a Liquorland store at the currently vacant site. A Coles spokesperson expressed disagreement with the ACCC's decision, stating that blocking the development \"does not promote competition\" and denies shoppers greater choice and convenience.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COL.AU","symbol_name":"COLES GROUP LTD","start_time":0,"source_url":"","article_id":"1153112007","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1153112007","pubTimestamp":1782864192,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Coles Group Ltd (COL.AU) saw its shares plummet 5.09% during intraday trading on Wednesday following regulatory opposition to its expansion plans in Western Australia.The Australian Competition and...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"COL.AU":"COLES GROUP LTD"},"translate_title":"个股追踪|ACCC反对卡尔古利超市收购后科尔斯集团盘中暴跌5.09%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COL.AU":1},"content_text":"Coles Group Ltd (COL.AU) saw its shares plummet 5.09% during intraday trading on Wednesday following regulatory opposition to its expansion plans in Western Australia.The Australian Competition and Consumer Commission (ACCC) announced it opposes Coles' proposed acquisition of a leasehold for a new supermarket and liquor site in the Kalgoorlie-Boulder area. 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