Orora shares drop as Saverglass faces regulatory review
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The news: Orora shares fell in afternoon trading after the packaging group announced that the French Competition Authority had visited its Saverglass office in France over a review into industry-wide anticompetitive practices.
The numbers: Orora shares were down 1.3% to $1.94 in late trading, having dropped nearly 30% over the last 12 months.
The context: Orora, which bought European glass bottle maker Saverglass in 2023, said the French regulator is reviewing "potentially anticompetitive practices allegedly engaged in by participants in the French beverage glass container industry" prior to its acquisition.
The source: ASX
