Little pleased with interest in Pacific National

<p>With a national newspaper reporting that Pacific National competitors and customers had complained to competition authorities about Toll’s influence on its behaviour, Toll managing director Paul Little today (Thursday, August 3) lauded the interest displayed in the sale of 50% of the rail freight company.</p> <p>&#8220Toll has been delighted by the strong market interest in Pacific National,&#8221 Mr Little said.</p> <p>&#8220This is a pleasing endorsement by the market of the future of rail as a transport mode, and more generally indicates confidence in the benefits of long term investment in Toll’s infrastructure assets.</p> <p>&#8220Toll believes that Pacific National, with its new 50% owner, will be well positioned to invest in terminals and infrastructure. Working with governments, Pacific National can make rail a preferred long distance transport mode for the nation’s freight.&#8221</p> <p><em>The Australian Financial Review</em> reported that the Australian Competition and Consumer Commission had increased surveillance on Toll after complaints that, among other things, Toll executives working at Pacific National were putting Toll’s interests first, contrary to undertakings made during the Patrick takeover.</p> <p>Mr Little rejected this, telling the newspaper: &#8220We have a very clear understanding of what is required of us as part of this process and we are complying with undertakings.&#8221 </p> <br />