Sharechat Logo

AMP granted clearance to buy AXA

Monday 21st June 2010

Text too small?

The Commerce Commission has granted clearance for AMP to acquire the Australian and New Zealand operations of AXA Asia Pacific Holdings.

Commerce Commission chair Dr Mark Berry said the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the affected markets.

The Commission considered the impact of the acquisition on each of the national markets for the provision of wealth protection products and services, retail funds management products and services, wholesale funds management products and services and the financial planning and advisory services.

The Commission considers that competition from existing participants in the affected markets would be sufficient to constrain the merged AMP and AXA.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

AMP 1H earnings creep ahead of forecast, appoints Craig Meller as CEO from next year
NZ sharemarket to unleash demand for an extra $2 billion from investors, says AMP
AMP Capital NZ cut costs in 2011, parent may ask for more
AMP Financial Services suffers 1Q cash outflow, NZ shines
AMP NZ Office 1H profit falls 28.2%
AMP Financial Services NZ's earnings fall
Daily ShareChat: AMP
Stocks to watch: Good news start for AMP
AMP still interested in AXA despite rejection
NAB trumps AMP offer to scoop AXA AP's Australasian business