Australian federal opposition supports legislating divestiture powers for gov't to break up major supermarkets to curb rising prices.
The Australian federal opposition has backed legislating divestiture powers for the government to break up major supermarket companies in an effort to curb rising supermarket prices. The Coalition, led by Peter Dutton, plans to introduce sector-specific divestiture powers as a last resort deterrent to stop major supermarkets from price gouging, mistreatment of suppliers, and land banking. Divestiture power enables authorities to force companies to strip themselves of assets such as stores and brands.
July 02, 2024
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