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NAB's move on Citigroup consumer business monitored by competition regulator

By Laurel Henning ( August 9, 2021, 07:36 GMT | Insight) -- National Australia Bank’s announcement today that it has entered into an agreement with Citigroup to buy the international bank’s Australian consumer business has prompted the country’s competition regulator to monitor the merger. In an update to the Australian Competition & Consumer Commission’s public merger register today, the regulator said it expected to begin a public review of the A$1.2 billion deal once it received a submission and information from the companies.National Australia Bank’s announcement today that it has entered into a A$1.2 billion ($880 million) agreement with Citigroup to buy the international bank’s Australian consumer business has prompted the country’s competition regulator to monitor the merger....

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