Expedia’s bid to take over Wotif hits snag

SYDNEY: Expedia Inc’s takeover of Australian rival Wotif.com Holdings Ltd hit a snag yesterday when a regulator raised concerns about competition and deferred its ruling on whether to approve the deal. Wotif shares plunged more than seven per cent after the Australian Competition and Consumer Commission said the takeover could “remove a significant competitive constraint” as it put off a decision on whether to approve the A$699 million (RM2.08 billion) takeover proposal for another month. Reuters

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