MLC is one of the most recognised and trusted brands in Australian financial services. Owning it has been a curse.
The last owner to make money out of MLC was Lendlease. The property group sold the business to “a genuine home”, National Australia Bank, for $4.6 billion in 2000. That’s about $9 billion in today’s money.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
