ANZ has argued the consumer watchdog is out of touch with the competitive reality of the banking sector and would be wrong to oppose its purchase of Suncorp’s banking arm based on the “distorted and selective” views of rivals.
In a long-awaited response to the Australian Competition and Consumer Commission’s statement of preliminary views, ANZ said the deal would not hurt competition and committed to an appeal if it is opposed.
Loading...
Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
