Coles Shares Inch Down After ACCC Begins Stage One Assessment for Proposed Acquisition of New South Wales Lease

MT Newswires Live

Jun 05

Coles Group's (ASX:COL) shares fell marginally in early trading on Friday after the Australian Competition and Consumer Commission (ACCC) said in a statement on Thursday that it was assessing the impact on competition of its proposed acquisition of a lease over a new supermarket site to be constructed within a new mixed-use development in New South Wales.

The development is located at 5 Olympic Drive and 14-24 Childs Street in Lidcombe.

The regulator asked for submissions or information regarding the assessment by June 12.

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