The Australian Competition and Consumer Commission today released a Statement of Issues (SOI) outlining concerns with the proposed acquisition of the Trading Post and its associated assets by Carsales.com Ltd from Telstra Corporation Limited.
The SOI seeks more information on a number of competition issues which have arisen from the ACCC's review to date.
“The ACCC’s preliminary view is that the proposed acquisition would remove Trading Post as one of Carsales’ closest and most effective competitors in the online automotive classifieds market,” ACCC Chairman Rod Sims said.
“The Trading Post provides an alternative that is popular with dealers and private advertisers. We are concerned the proposed acquisition would remove this choice”.
The ACCC invites further submissions from the market in response to the Statement of Issues by 2 November 2012.
As a result, the ACCC's final decision will be deferred until 29 November 2012.
The Statement of Issues will be available on the public merger register on the ACCC's website, www.accc.gov.au/mergersregister
Submissions can be sent by email to the ACCC at: mergers@accc.gov.au