Aug 4 (Reuters) - Australia's ACCC:
- ACCC DENY AUTHORISATION FOR ANZ TO ACQUIRE SUNCORP BANK
- NOT SATISFIED THAT ACQUISITION IS NOT LIKELY TO SUBSTANTIALLY LESSEN COMPETITION IN SUPPLY OF HOME LOANS NATIONALLY, AMONG OTHERS
- CONSIDER THERE IS INCREASED LIKELIHOOD OF COORDINATION BETWEEN FOUR MAJOR BANKS IN SUPPLY OF HOME LOANS SHOULD SUNCORP BANK BECOME PART OF ANZ
- COMPETITION BEING LESSENED IN MARKETS WILL LEAD TO CUSTOMERS GETTING A WORSE DEAL
- NOT SATISFIED THERE WOULD NOT BE A LIKELY SUBSTANTIAL LESSENING OF COMPETITION IN SMALL TO MEDIUM-SIZED BUSINESS BANKING IN QUEENSLAND
- PROPOSED ACQUISITION OF SUNCORP BANK BY ANZ WOULD FURTHER ENTRENCH AN OLIGOPOLY MARKET STRUCTURE THAT IS CONCENTRATED
News: SUN Australia's ACCC Deny Authorisation For ANZ To Acquire Suncorp Bank
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