However, regulators are thought to be concerned about the potential deal as the acquisition would give Coles Myer and its prime competitor, Woolworths, a total share of the Australian liquor market in the region of 40%.
AUSTRALIA: Coles Myer makes move on Theo’s
The Australian retail group, Coles Myer, has confirmed reports that it is negotiating to acquire the liquor retailing chain, Theo's Liquor, in a deal which could be worth more than A$300m. Theo's Liquor is an independent company which operates 75 stores in Queensland and New South Wales.