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Top related persons:
Lucy Craymer - 2 Mick Keogh - 2 Himanshi - 2 Gina Cass - 1 Gottlieb - 1 Jim Chalmers - 1 Byron Kaye - 1 Stephen Coates - 1
Top related locs:
Lambton Quay Wellington , New Zealand Melbourne Bengaluru Sydney Queensland
Top related orgs:
ANZ Bank - 2 REUTERS - 2 ANZ - 2 Suncorp - 2 Australian Competition - 2 Consumer Commission - 2 Australian Competition Tribunal - 2 Thomson - 2

Search resuls for: "Mick Keogh"


2 mentions found


☆ Australia regulator blocks $3.2 bln ANZ-Suncorp bank deal
  + stars: | 2023-08-04 | by ( Byron Kaye Himanshi Akhand | Byron Kaye | Himanshi Akhand | ) www.reuters.com   time to read: +3 min
The logo of the ANZ Bank is seen at Lambton Quay, in Wellington, New Zealand November 10, 2022. "A substantial lessening of competition in home loans would have major flow-on impacts to Australians with a mortgage," he added. The companies said they would seek a review of the determination at the Australian Competition Tribunal, an offshoot of the federal court which oversees takeover rulings. Taking the deal to the competition tribunal would delay its completion to mid-2024, if the tribunal approved it, from the late 2023 timeline the companies gave when they announced it a year ago. The ANZ-Suncorp deal also needs sign-off from Treasurer Jim Chalmers who declined to comment.
Persons: Lucy Craymer, Mick Keogh, Gina Cass, Gottlieb, Jim Chalmers, Byron Kaye, Himanshi, Stephen Coates Organizations: ANZ Bank, REUTERS, ANZ, Suncorp, ANZ Group, Australian Competition, Consumer Commission, Australian Competition Tribunal, Citi, Telstra, TPG Telcom, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Sydney, Bengaluru
☆ Australian competition regulator rejects $3.2 bln ANZ-Suncorp Bank deal
  + stars: | 2023-08-04 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Lucy CraymerAug 4 (Reuters) - Australia's competition regulator said on Friday it had denied authorisation for ANZ Group Holdings (ANZ.AX) to proceed with its proposed A$4.9 billion ($3.21 billion) acquisition of Suncorp Group's banking arm. The Australian Competition and Consumer Commission (ACCC) said it was not satisfied that the acquisition would not lessen competition in the supply of home loans to Australian customers. "Evidence we obtained strongly indicates that the major banks consider the second-tier banks to be a competitive threat," ACCC Deputy Chair Mick Keogh said in a statement. Keogh said the proposed acquisition would further "entrench an oligopoly" structure, with the country's four major banks dominating. "We believe the acquisition will improve competition, which will benefit Australian consumers, particularly in Queensland," ANZ said in a statement, noting that the ACCC's decision can be reviewed by the independent Australian Competition Tribunal.
Persons: Lucy Craymer, Mick Keogh, Keogh, Himanshi, Shri Navaratnam, Subhranshu Organizations: ANZ Bank, REUTERS, ANZ Group Holdings, Suncorp, Australian Competition, Consumer Commission, ANZ, Australian Competition Tribunal, Thomson Locations: Lambton Quay, Wellington , New Zealand, Melbourne, Queensland, Bengaluru
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