Aussie Regulator Postpones Call On $2.7B Foxtel-Austar Deal

Law360, New York (March 27, 2012, 1:36 PM EDT) -- Australia’s antitrust watchdog has delayed its decision on whether to approve the proposed $2.7 billion acquisition of Austar United Communications Ltd. by rival subscription television company Foxtel, saying more discussion with Foxtel is needed, Austar said Tuesday.

Austar said the Australian Competition and Consumer Commission has suspended its timeline for reaching a decision about the pending merger so they can finalize talks with Foxtel regarding the company's plan to assuage antitrust concerns about the deal.

“While Austar remains optimistic of a positive outcome ... Austar makes...
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