AusRAIL, Market Sectors

Freight Australia sale gets watchdog’s attention

<p>The Australian Competition and Consumer Commission (ACCC) is keeping an eye on the sale of Freight Australia over concerns that it could result in an east coast monopoly, according to a report in today’s (Monday, December 8) <em>Sydney Morning Herald.</em> </p> <p>The ACCC is following-up industry concerns that Pacific National could effectively establish a rail freight monopoly in eastern and south-eastern Australia along the Melbourne-Sydney-Brisbane axis, the paper said.</p> <p>However, it is worth noting that two years ago the ACCC opposed Freight Australia’s bid for the sale of National Rail and FreightCorp.</p> <p>Pacific National has not yet confirmed any interest in the sale but its shareholders, Toll Holdings and Patrick Corporation, have made noises to suggest the interest is there.</p> <p>The other frontrunners are Queensland Rail and Australian Railroad Group shareholder, Wesfarmers. </p> <br />