Australia watchdog cites concerns on bids for Glencore coal rail arm
Australia's competition watchdog raised concerns about bids from the nation's two biggest coal haulers for Glencore Plc's (GLEN.L) coal rail business and said it would decide by December whether to allow them to go ahead.
Glencore has attracted several bids for its GRail business, the third-largest coal haulage business in Australia, which could fetch as much as A$1.5 billion ($1.1 billion), including from top coal hauler Aurizon Holdings (AZJ.AX), its arch rival Pacific National and U.S. company Genesee & Wyoming Inc (GWR.N).
The Australian Competition and Consumer Commission said the... read more
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