Australia To Review AXA's Offer To Divest Platform Biz

Law360, New York (August 9, 2010, 5:24 PM EDT) -- French financial services conglomerate AXA Group and National Australia Bank Ltd. have offered to sell part of AXA's platform administration business in a bid to appease Australia's competition concerns over the companies' $11.5 billion deal, which would give NAB control of AXA's Australian business.

The Australian Competition and Consumer Commission opened the proposed divestiture to market consultation Monday, asking any potentially interested parties to weigh in on whether the AXA divestiture would resolve a potential problem in the market for retail investment platforms for complex investors....
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