Seven Group Holdings Ltd. (SVW.AU) is confident it would win approval from Australia's competition watchdog to take over pay television investment company Consolidated Media Holdings Ltd. (CMJ.AU), the Australian newspaper reported Monday, citing an unnamed source.

News Corp. (NWS), which owns this newswire and The Wall Street Journal, last week launched a 1.97 billion Australian dollar (US$1.98 billion) takeover bid for Consolidated Media.

Seven Group, which owns 24% of Consolidated Media, has told the Australian Competition & Consumer Commission it is considering acquiring more shares in the company and asked the ACCC to review a potential takeover by it.

A spokesman for Seven Group wasn't immediately available to comment.

 
  Newspaper website: http://www.theaustralian.news.com.au

Write to djnews.sydney@dowjones.com

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