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Coles Group's Proposed Acquisition of Paydock Under Phase One ACCC Review

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Coles Group's (ASX:COL) proposed acquisition of software group Paydock is under a phase one initial review by the Australian Competition and Consumer Commission (ACCC), the regulator said Thursday.

The ACCC launched a public consultation on the deal with a July 16 response deadline, and is looking to wrap up the initial assessment by Aug. 20.

Coles Group unit Retail Payment Solutions, which provides payment acquiring services to certain Australian retailers, is looking to acquire Paydock, which offers a payment orchestration platform to merchants and financial institutions.

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