×

ACCC clears Shell's $70B takeover of BG Group

186707347JS005_Shell_Report
Getty Images

Australia's competition watchdog on Thursday approved Royal Dutch Shell's proposed $70 billion (A$98.54 billion) takeover of BG Group, saying the deal would not change the domestic market.

"The ACCC's view is that the proposed acquisition would be unlikely to substantially lessen competition in the wholesale natural gas market, in either Queensland or eastern Australia more broadly," Australian Competition and Consumer Commission Chairman Rod Sims said in a statement.