BREAKING NEWS

BREAKING NEWS

Australia's Woolworths says BP will not buy its petrol stations

Now Reading:

Australia's Woolworths says BP will not buy its petrol stations

Australia's Woolworths says BP will not buy its petrol stations
Text size Aa Aa

(Reuters) - Australian retailing giant Woolworths Group <WOW.AX> on Thursday said BP PLC's <BP.L> Australian unit would not continue with the purchase of Woolworths' petrol business which was announced in December.

Australia's competition watchdog had in December blocked the A$1.8 billion (£1 billion) purchase of Woolworths petrol stations, even after BP offered to sell some stations to ease competition concerns.

Woolworths said it would continue to entertain alternative options for its petrol business.

(Reporting by Susan Mathew in Bengaluru, editing by G Crosse)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.