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Innovation Holdings' acquisition of iSelect clears Australian regulatory hurdle

( April 15, 2021, 00:19 GMT | Official Statement) -- MLex Summary: Innovation Holdings Australia's move to increase its stake in comparison site iSelect has been cleared by the Australian competition regulator. In a statement today, the Australian Competition & Consumer Commission said it won't oppose acquisitions by the Compare the Market owner that will see Innovation Holding's shares in iSelect reach 35 percent of the company. The ACCC found that an increased IHA shareholding would be unlikely to substantially lessen competition in any potential market for comparison services, including in any specific product category, such as health insurance. The ACCC had announced its plans to look into the acquisition in November 2020. The ACCC's full statement follows: ...

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