Oil major BP said today that it was consulting its lawyers over the Australian monopoly watchdog’s plans to oppose its deal for a network of petrol stations.
BP said the transaction with Woolworths would bring a compelling new offer to Australian consumers.
Andy Holmes, president of BP Australia, said: “We are disappointed by the news today from the ACCC.
“We remain confident that, with appropriate divestments as offered by BP, this transaction would not substantially lessen competition.
“In light of this, we are currently consulting with our lawyers to determine our next steps.”