Australian Competition and Consumer Commission (ACCC) chairman Rod Sims said the handling of mergers needs a “rethink,” a week after knocking back the TPG-Vodafone merger because of dubious claims over competition.
Mr Sims told the Australian Financial Review “we need a real rethink on how merger issues are dealt with in Australia,” after the competition watchdog lost yet another battle in the courts on May 15.
Mr Sims maintains there’s nothing wrong with the Commission’s legal strategy, telling the AFR the system is responsible for the fact its “record is lousy” on mergers.
“About 85 to 90 per cent of cases we take to court are successful in cartels, competition and consumer law,” Mr Sims said.
“When you are winning the cases all of the time in all other areas of the law but not in mergers, it is clear there is a problem with the merger regime in Australia.”
The loss in a case brought by freight operator Aurizon comes after TPG and Vodafone announced they would challenge the Commission’s decision to block a AU$15 billion (US$10.3 billion) merger between the two companies.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Extends Support for Farms and Fisheries Amid Market Disruptions
May 5, 2024 by
CPI
Sony and Apollo Bid $26 Billion for Paramount Acquisition
May 5, 2024 by
CPI
Goldman Sachs Resolves Decade-Old Metal-Rigging Class Action Lawsuit
May 5, 2024 by
CPI
Italian Antitrust Ruling Puts Halt on Intesa Sanpaolo’s Fintech Ambitions
May 5, 2024 by
CPI
Google Antitrust Case: Closing Arguments Conclude
May 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI