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Thursday, March 11, 2010

Australia's ACCC Delays Findings On NAB, AMP Proposals For AXA Asia Pacific

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By Bill Lindsay
Dow Jones Newswires
     

    SYDNEY -(Dow Jones)- Australia's competition regulator said Friday it has delayed its decision on the separate, multi-billion dollar bids for wealth management and protection firm AXA Asia Pacific Holdings (AXA.AU) by National Australia Bank Ltd. (NAB.AU) and AMP Ltd. AMP.AU).

    On its website, the Australian Competition and Consumer Commission said it now expects to make a ruling on NAB's bid by April 22, and a separate ruling on wealth manager AMP's bid by April 1.

    The ACCC had previously expected to rule on both bids by March 17 after calling for public submissions in February.

    Both NAB and AMP had no immediate comment on the delay.

    Copyright © 2009 Dow Jones Newswires

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