Australia raises concerns over $6.5 bln Asciano buyout

Wed May 25, 2016 7:46pm EDT
 
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SYDNEY May 26 (Reuters) - Australia's antitrust watchdog said on Thursday a proposed A$9.1 billion ($6.5 billion) buyout of rail and port giant Asciano Ltd by a host of global investors may hurt competition in the rail freight industry.

The Australian Competition and Consumer Commission (ACCC) said the planned takeover by Canada's Brookfield Asset Management Inc and Australian cargo handler Qube Holdings Ltd may give Qube unfair access to services contracts with Asciano's ports. ($1 = 1.3920 Australian dollars) (Reporting by Byron Kaye; Editing by Stephen Coates)