Australian regulator rejects ANZ’s deal to acquire Suncorp’s banking unit

SYDNEY — Australia’s competition regulator has rejected ANZ’s proposed 4.9 billion Australian dollars (US$3.21 billion) acquisition of Suncorp’s banking unit.

The Australian Competition and Consumer Commission on Friday said it had decided not to grant merger authorization as it wasn’t satisfied the acquisition wouldn’t substantially lessen competition in Australia’s home-loan market.


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