Summaryconnectfinancial and islandstate propose to merger their credit union operations in Tasmania.
Market definitionThe ACCC considered the proposed merger in the context of the market for the provision of financial services in Tasmania.
Competition analysisThe ACCC considered it unlikely that the proposed merger would lead to a substantial lessening of competition in the relevant market.
The ACCC noted that while the proposed merger would involve the amalgamation of the two largest credit unions in Tasmania, the presence of a large number of competitors (particularly the major banks) is likely to provide a sufficient constraint on the merged entity to prevent any attempt to increase prices or reduce service levels.
|31/01/2007||ACCC commenced review under the Merger Review Process Guidelines.|
|02/02/2007||Market inquiries commenced.|
|09/02/2007||Closing date for submissions from interested parties.|
|13/02/2007||ACCC announced it would not oppose the proposed acquisition.|