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Innovation Holdings Australia's iSelect acquisition clears regulatory hurdle

( December 1, 2022, 23:01 GMT | Official Statement) -- MLex Summary: Innovation Holdings Australia, which operates companies including price-comparison site Compare the Market, has seen its proposed acquisition of Australian-listed rival iSelect go unopposed today by the country's competition watchdog. In a statement, the Australian Competition & Consumer Commission said it had heard concerns from some market participants that Compare the Market and iSelect compete closely, but the regulator considered it unlikely that IHA acquiring the remaining shares in iSelect would substantially lessen competition. IHA acquired 26 percent of iSelect shares through a series of acquisitions that began in 2018, before proposing to acquiring all remaining shares.The full statement from the Australian Competition & Consumer Commission is below; the ACCC's market definition and competition analysis follows. ...

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