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Australia competition watchdog clears Shell's $70 bln takeover of BG Group

Wed, 18th Nov 2015 22:50

MELBOURNE, Nov 19 (Reuters) - Australia's competitionwatchdog on Thursday approved Royal Dutch Shell's proposed $70 billion (A$98.54 billion)takeover of BG Group, saying the deal would not change the domestic market.

"The ACCC's view is that the proposed acquisition would beunlikely to substantially lessen competition in the wholesalenatural gas market, in either Queensland or eastern Australiamore broadly," Australian Competition and Consumer CommissionChairman Rod Sims said in a statement. (1 Australian dollar = $0.7104) (Reporting by Sonali Paul)

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