Australia’s top competition regulator, Graeme Samuel , lashed out at critics who said the blocking of National Australia Bank Ltd.’s $12.9 billion offer for Axa Asia Pacific Holdings Ltd. signals increased opposition to mergers.
Austar United Communications Ltd., Australia’s second-biggest pay TV network, slumped the most in almost a decade in Sydney trading on concern a bid by Rupert Murdoch-backed Foxtel will be blocked by the antitrust watchdog.
The head of Australia’s competition regulator, Graeme Samuel , ruled himself out of the assessment of National Australia Bank Ltd.’s bid for Axa Asia Pacific Holdings Ltd. because his family has invested in a shopping centre that reportedly owes money to National Australia Bank.
Australia’s competition regulator has all the information it needs to rule on the planned iron-ore venture of BHP Billiton Ltd. and Rio Tinto Group, handing the timing of any verdict back to the companies.
Australia’s antitrust regulator said it will oppose plans by Pick n Pay Stores Ltd. , South Africa’s second-largest food retailer, to sell the Franklins chain to Metcash Ltd., citing competition concerns in New South Wales.
The Australian government must close a legal loophole that allows gasoline retailers to share price information with impunity from competition laws, said the head of the country’s competition regulator.
Australia’s competition regulator has attacked participants in National Australia Bank Ltd.’s proposed takeover of Axa Asia Pacific Holdings Ltd. for creating a “whirlwind of innuendo,” the Australian newspaper said, citing Chairman Graeme Samuel.
National Australia Bank Ltd. is in talks with potential buyers for one of Axa Asia Pacific Holdings Ltd. ’s assets as it tries to gain regulatory approval to purchase the investment manager, two people with knowledge of the matter said.