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Australia raises antitrust concerns about $545 mln billboard takeover
May 4, 2017 / 12:43 AM / in 7 months

Australia raises antitrust concerns about $545 mln billboard takeover

SYDNEY, May 4 (Reuters) - Australia’s antitrust regulator said a plan by Australia’s top billboard firm to buy its largest rival for A$735 million ($545 million) may jack up the prices charged to advertisers while cutting service levels, a sign it may block the deal.

Shares of the target company, oOh!Media Ltd, and shares of the company planning to buy it, APN Outdoor Group Ltd , both fell as much as 7 percent in early trading on Thursday, in a flat overall market. ($1 = 1.3464 Australian dollars) (Reporting by Byron Kaye; Editing by Edwina Gibbs)

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