April 4 (Reuters) - Australia's ACCC:
- RELEASED A STATEMENT OF PRELIMINARY VIEWS ON ANZ BANKING GROUP'S PROPOSED ACQUISITION OF SUNCORP GROUP'S BANKING ARM
- ALSO CONSIDERING HOW PROPOSED ACQUISITION WOULD AFFECT COMPETITION IN BANKING SECTOR MORE GENERALLY
- CALLING FOR FURTHER SUBMISSIONS FROM INDUSTRY AND CONSUMERS ON HOW PROPOSED ACQUISITION MAY IMPACT COMPETITION
- REVIEW SO FAR HAS BEEN FOCUSED ON HOME LOANS AND RETAIL DEPOSITS, AGRIBUSINESS BANKING AND SMALL AND MEDIUM SIZED ENTERPRISE BANKING
- ACCC’S FINAL DECISION IS CURRENTLY SCHEDULED FOR 12 JUNE 2023
- CAN ONLY GRANT AUTHORISATION IF IT IS SATISFIED IN ALL CIRCUMSTANCES THAT EITHER THERE IS NOT A LIKELY SUBSTANTIAL LESSENING OF COMPETITION
- WILL CONCLUDE OUR REVIEW AND EXPECT TO ANNOUNCE OUR DECISION IN MID- JUNE
- HOME LOAN PRICE INQUIRY REPORTS OF 2018 AND 2020 SHOWED COMPETITION BETWEEN BIGGEST FOUR BANKS HAS BEEN AT BEST MUTED
- ANY ACQUISITION OF A POTENTIAL RIVAL BY ONE OF MAJOR BANKS MUST BE CLOSELY CONSIDERED
News: ANZ ACCC Releases Statement Of Preliminary Views On ANZ's Proposed Acquisition Of Suncorp Bank
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