Proposed merger submission expected

KUMUL Consolidated Holdings is expected to make a submission to Independent Consumer and Competition Commission on the proposed merger between Eda Ranu and Water PNG.
The ICCC has observed this planned merger since being announced by National Planning and Monitoring Minister Richard Maru, says ICCC chief executive officer Paulus Ain.
“Basically what the Government has done is that it has announced its intent to merge the two,” he said.
“National Planning was pushing for this but they did not have jurisdiction to do this, and now KCH (Kumul Consolidated Holdings) is saying that we will be doing this.
“We have written to them requesting for a submission and they said they would do it, and that’s the word from the managing-director himself.
“We are aware of the plans but are yet to get a written submission with the full details on this.”
ICCC manager – market and acquisition competitive market and fair trade, Emmanuel Auru, said the proposed merger would have to consider the markets each entity service.