The Australian Competition and Consumer Commission will not oppose the Commonwealth Bank's acquisition of the financial planning group, Count Financial.ACCC chairman Rod Sims said in a statement yesterday: "The ACCC is satisfied that there is unlikely to be a substantial lessening of competition in any relevant market as a result of this proposed acquisition."Count sent out a scheme booklet to its shareholders in late October setting out the details of the CBA proposal. A scheme meeting is scheduled for November 25.In its review the ACCC identified "four key areas of overlap" between Commonwealth and Count - financial planning and advisory services, retail investment platforms, lending services and insurance.Yesterday's statement said: "The ACCC noted that the acquisition would increase CBA's presence in the supply of financial planning services and mortgage referral services. This could potentially have reduced competition in the supply of these services and increased the ability of CBA to direct business to its upstream investment and mortgage related products. "However, the ACCC was satisfied that the CBA would continue to be constrained by a number of other significant financial planning dealer groups, mortgage broking firms and investment product providers."CBA has an advice business employing 1220 planners while Count has 730 planners. The combined group will be one of the biggest in the country.