GinaUK

From the BBC: "Australia's second largest retailer, Coles, has put the for sale sign above its business."

http://news.bbc.co.uk/1/hi/business/6389183.stm

http://www.thewest.com.au/default.as...ontentID=22152
http://www.thewest.com.au/default.as...ontentID=22329
http://www.thewest.com.au/default.as...ontentID=22230
http://www.thewest.com.au/default.as...ontentID=22077

Gina

Luke I Amyofath

Well thats news to me. I knew the bi-lo were closing down but didnt think there was any problem with coles.

Mind you, their stores are shite so I really shouldnt have been suprised.

Bix

Wasn't aware of that Gina. Thanks.

Coles reminds us of Tescoes and is not shite in our opinion.

I like K-Mart too.

sme

Shall we do a whip round ?

windog

Any body after a "buisiness visa"? seems there may be an oppourtunity

Womat

The sharks have been circling Coles for quite some time, a consortium led by private equity firm KKR (U.S.) were thought to be behind an approach last year.

Local markets speculated on a range of possible buyers including Tesco, on which Coles models its business, and US giant Wal-Mart.

Womat

If you've got a cool $15 billion to spare, go for it!

windog

Bit short of loose change at thr mo!

Vash the Stampede

KKR were rebuffed, IIRC.

The thought of Tesco or Walmart entering Australia is positively horrific.

I've seen the damage inflicted upon British farmers by the big supermarket chains and I don't want to see it repeated Down Under.

jad n rich

This mornings news - woolworths are being tipped to buy coles out. 2 food players has given us extortinate supermarket prices, WTF will food cost if we have just one.

Interesting to see if the australian consumer will put up some sort of fight, shezz right mate

HiddenPaw

What makes you think it's not already happening?

I have a sense of déjà vu with this particular topic, Vash. I think we already established that supermarket profiteering is a global issue, Australia included.

northernbird

will that be allowed to happen? Quite outrageous if it does.

iPom

Coles is purposefully modeling itself on Tesco. They're not owned or otherwise affiliated with them, but heck, if there's a business model for making a lot of money out of people, Tesco have it and Coles want it.

Vash the Stampede

Of course it's already happening; that's obvious to anyone. But I don't think the problem is anywhere near as bad Down Under as it is in the UK or US.

Just look at Walmart's brutal tactics, for example; even Tesco isn't that savage (though it's trying hard) and there's certainly no Australian supermarket big enough or powerful enough to wreak havoc on the same scale. Comparing Tesco & Wal-Mart with Coles and Woolies is like comparing grizzly bears to feral cats.

Vash the Stampede

Government legislation precludes a complete takeover by Woolworths, so that's obviously not going to happen.

Nevertheless, Woolies might persuade the ACCC to let them have one of the smaller Coles subsidiaries.