Australia's ACCC blocks Coles supermarket as watchdog flexes new powers
In an unprecedented move, Australia's consumer watchdog, the ACCC, has used new powers to block the opening of a Coles supermarket. The regulator acted on the grounds that the store could knock out smaller competitors in the surrounding region. The decision is among the first uses of its expanded authority.
Australia's consumer and competition watchdog, the ACCC, has taken an unprecedented step by using new powers to block the opening of a Coles supermarket.
The regulator said it acted on the grounds that the store could knock out smaller competitors in the surrounding region. The decision stands out as one of the first concrete uses of the ACCC's expanded authority.
The move could set an important precedent in the ongoing debate over the market power of large supermarket chains. Business and consumer groups are now weighing what the ruling means for competition across the sector.
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