Pay TV Merger May be Delayed Further
Foxtel’s proposed $1.9 billion takeover of regional pay TV operator Austar could face fresh delays, according to the Australian Competition and Consumer Commission.
Austar’s minority shareholders are set to vote on the $1.52 per share bid on February 17. For the final vote to go through, Austar must win approval from the ACCC at least two weeks prior.
According to Fairfax reports, ACCC chairman Rod Sims refused to commit to a final ruling before the February deadline, saying only that it was “at an advanced stage”.
Late last year, the ACCC suspended its expected schedule for the decision after Foxtel sought an extension to address the issues raised in ACCC’s discussion paper.
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