May 4, 2017 / 12:49 AM / 6 months ago

Australia raises antitrust concerns about $545 million billboard takeover

SYDNEY (Reuters) - Australia’s antitrust regulator said a plan by Australia’s top billboard firm to buy its largest rival for A$735 million ($545 million) may jack up the prices charged to advertisers while cutting service levels, a sign it may block the deal.

Shares of the target company, oOh!Media Ltd (OML.AX), and shares of the company planning to buy it, APN Outdoor Group Ltd (APO.AX), both fell as much as 7 percent in early trading on Thursday, in a flat overall market.

($1 = 1.3464 Australian dollars)

Reporting by Byron Kaye; Editing by Edwina Gibbs

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