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ANZ's move on Suncorp Bank attracts Australian regulator's attention, ahead of review

( July 19, 2022, 05:00 GMT | Official Statement) -- MLex Summary: Australia New Zealand Banking Group’s A$4.9 billion ($3.35 billion) move to acquire Suncorp Bank is being monitored by the country’s competition regulator. In a statement on its website today, the Australian Competition & Consumer Commission said that it would commence a review of the proposed acquisition once it had received an application for merger authorization from ANZ. The ACCC has increasingly expressed concerns about the lack of competition in Australia’s financial-services industry.The statement from the Australian Competition & Consumer Commission follows: ...

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