ACCC stops Coles, Woolies from blocking competitors

ACCC stops Coles, Woolies from blocking competitors

The Australian Competition and Consumer Commission (ACCC) today banned supermarket retailers Coles (ASX:CGL) and Woolworths (ASX:WOW) from restricting competitors’ access to shopping centres.

Both Coles and Woolworths have agreed to stop demanding that shopping centres not lease space to competing supermarkets.

The parties had been including provisions preventing competing access in their supermarket leases, the ACCC said.

“Reducing the barriers to entry for new and expanding players opens the possibility for Australian consumers to have greater choices in where to shop, and potentially pay lower prices as a result.”

The regulator said it would now turn its attention to other supermarket operators.

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Tags Coles Retail Woolworths

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