(Adds background on deal)
Aug 25 (Reuters) - ANZ Group (ANZ) and Suncorp Group (SUN) said on Friday that they have filed separate applications to seek a tribunal review after Australia's competition regulator recently blocked ANZ's $3.2 billion buyout of Suncorp's banking arm.
Earlier this month, the Australian Competition and Consumer Commission (ACCC) raised concerns that the tie-up would worsen competition and "further entrench an oligopoly market structure" where four lenders, including ANZ have three quarters of the country's A$2 trillion ($1.28 trillion) home loans.
Both companies reaffirmed their mid-2024 target to execute the deal after the application to the Australian Competition Tribunal, an independent body that reviews ACCC decisions.
ACCC acknowledged the companies' move, but declined to comment further.
News: SUN UPDATE 1-Australia's ANZ Group and Suncorp seek review of $3.2 bln deal block
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$20.31 |
Change
-0.120(0.59%) |
Mkt cap ! $21.99B | |||
| Open | High | Low | Value | Volume |
| $20.31 | $20.42 | $20.27 | $28.08M | 1.381M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $20.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.38 | 1115 | 2 |
View Market Depth
| Last trade - 16.13pm 25/07/2025 (20 minute delay) ? |
| SUN (ASX) Chart |