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AMP AMP Limited

1.135
-0.01 (-0.87%)
22 Jul 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
AMP Limited ASX:AMP Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -0.87% 1.135 1.13 1.14 1.15 1.13 1.145 4,790,068 09:50:00

National Australia Bank Pursuing Options In Response To ACCC Ruling On AXA APH

20/04/2010 10:11am

Dow Jones News


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National Australia Bank (NAB.AU) said Tuesday it is pursuing its options in regards to its proposed purchase of AXA Asia Pacific Holdings ltd. (AXA.AU) after the deal was blocked Monday by the country's competition regulator.

"There are a range of options open to NAB and these are being actively pursued," the bank said in a statement.

NAB said it does not agree with the Australian Competition and Consumer Commission's decision to block the deal based on concerns about competition in the retail investment market.

NAB said it agrees with the agency's stance that the proposed merger wouldn't create competition in the superannuation, or pension fund, insurance and banking sectors.

The bank said it was disappointed with the agency's findings after the "extensive consultation" it undertook with the ACCC.

The blocking of the deal means AMP Ltd. (AMP.AU), which also bid for AXA APH, could renew its pursuit for the funds manager.

-By Cynthia Koons; Dow Jones Newswires; 61-2-8272-4691; cynthia.koons@dowjones.com

 
 

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