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New Zealand: Watchdog announces timber probe, but firm unlikely to get axed

 |  June 28, 2013

While the Commerce Commission announced a formal investigation into New Zealand’s timber market after receiving complaints of anticompetitive behavior, one firm in the market, Fletcher Building, says it does not expect to be sanctioned by regulators. Fletcher first announced the probe in a statement to the nation’s stock exchange, NZX; the regulator later confirmed the news, though no further information was offered. Fletcher said, however, that the probe focuses on pricing practices within the market in Auckland.

Full Content: TVNZ

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