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.

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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