Competition watchdog blocks ANZ $4.9bn takeover of Suncorp over ‘oligopoly’ fears
by Australian Associated Press from World news | The Guardian on (#6DHKP)
ACCC says second-tier banks such as Suncorp are important competitors against major banks which dominate market
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The competition regulator has declined to give ANZ permission to acquire Suncorp's banking arm in a $4.9bn transaction that would have shaken up the banking industry.
However, the two banks intend to appeal the decision.
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