( June 26, 2026, 06:07 GMT | Official Statement) -- MLex Summary: ANZ, CBA, NAB and Westpac's plan to establish a joint venture in which each bank will hold a 25 percent interest in a shared cash pool and the operating entity has been approved by Australia's competition watchdog, subject to a separate authorization process for the venture's operations. The Australian Competition & Consumer Commission said the determination was issued because the watchdog concluded the acquisitions were unlikely to substantially lessen competition, as they are only a necessary preliminary step and would not change how cash is acquired, supplied, or distributed in Australia. The watchdog also noted that the joint venture cannot begin operating or replace Westpac as the commercial cash supplier unless it separately grants authorization for the broader operational arrangements.Statement follows. Determination attached. ...
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