ACCC won't block creeping SevenTOP NewsLocal stocks end positive...

ACCC won't block creeping Seven
TOP News
Local stocks end positive but rally runs out of steam as financials lose ground 4:32 PM
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The Spectators
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AAP

The competition watchdog says it will not intervene in the acquisition of West Australian Newspapers Holdings Ltd (WAN) shares by its largest shareholder and suspected predator, Seven Network Ltd.

The broadcaster holds a 22.3 per cent stake in the newspaper publisher and has been using the creep provisions of the Corporations Act to lifts its interest without triggering a formal takeover.

http://www.businessspectator.com.au/bs.nsf/Article/ACCC-KV9JZ?OpenDocument