No ‘credible’ rivals to Metcash, court told

 In Australia, Metcash/IGA, NewZealand

THE ”cursory” interest shown by Woolworths in a joint bid for Franklins four months ago did not prove the major supermarket chains would ever be ”credible” rivals to Metcash in supplying wholesale groceries to independent retailers, the competition regulator told the Federal Court yesterday.

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In his closing submission in the Australian Competition and Consumer Commission’s attempt to block Metcash’ $215 million purchase of Franklins, Norman O’Bryan, SC, urged Justice Arthur Emmett to disregard ”the episode with Mr Pockett”. Two meetings in December involving the finance director of Woolworths, Tom Pockett, dominated the early part of the trial, which began on March 14. Brisbane Times – Read more…

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