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ACCC probes Qantas purchase of Alliance stake

February 08, 2019 / ELLIS TAYLOR

The Australian Competition and Consumer Commission (ACCC) has launched an investigation into Qantas’s recent purchase of a 19.9% stake in Alliance Airlines.The commission’s public register shows that the public review commenced on 7 February, and will focus on if there has been a breach of competition laws as a result of the acquisition.Details of the issues that it will consider will be made public soon, but it has opened for submissions up to 4 March. No expected completion date has been posted.Updated stock exchange disclosures show that Qantas acquired its stake in publicly-listed Alliance in two off-market and one on-market transactions on 1 February, picking up 24.8 million shares at A$2.40 ($1.70) each.