ACCC clears Westfield buy

Lender makes a play to win back market share from its big four rivals.

Westfield Group (WDC) and Westfield Retail Trust (WRT) have been cleared to acquire a Perth shopping centre after the consumer watchdog said it would not oppose the deal.

In a statement, the Australian Competition and Consumer Commission said the verdict was conditional on Westfield's acceptance of a court enforceable undertaking to sell their ownership of a nearby shopping centre.

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