Competition Regulator May Extend Deadline For AXA Ruling

Post by Sharat on March 4, 2010 · Under Business News, Company News, Mergers & Acquistions, Wealth Management, banking · Comment 

Graeme Samuel, chairman of the Australian Competition and Consumer Commission says that the regulator may need more time to evaluate the two competing bids for AXA Asia Pacific Holdings, and may have to extend the March 17th deadline for ruling on proposals by NAB and AMP.

“There is a possibility we might have to extend, we will have to wait and see whether we can actually meet that time line. It is one of the more complex matters that we’ve had to look at in recent times.” Mr. Samuel said on the sidelines of an Australia-Israel Chamber of Commerce lunch.

Last month the regulator requested further information for its assessment on the effects both bids would have on competition within the Australian wealth management sector.

In February the regulator also delayed its ruling and requested more information on the proposed iron ore joint venture between resource giants BHP Billiton and Rio Tinto.
“I don’t anticipate we’ll have a response available on that within a matter of two or three weeks — it will take longer than that.” Mr. Samuel said.

Compare Australian Debit Card Deals

Bookmark and Share

Related posts

Tags: , , , , , , , , , ,

Comments

Leave a Reply







Sponsored Ads