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BP's plan to buy Australian petrol pump network blocked
Published Thu, Dec 14, 2017 · 09:50 PM
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Sydney
ENERGY giant BP's plan to buy a network of Australian petrol stations from supermarket chain Woolworths was blocked on Thursday by the competition watchdog over fears it will lead to higher fuel prices.
The British firm announced a year ago it had agreed to pay US$1.3 billion to buy, rebrand and operate Woolworths' existing 531 fuel and convenience stores, plus 12 sites under construction.
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