Brief: Kina Securities Updates On Draft Determination By PNG ICCC On Acquisition Of Westpac PNG

Kina Securities

26/07/2021 07:52

July 26 (Reuters) - Kina Securities Ltd  KSL.AX :
    * UPDATE WBC PNG ACQUISITION-DRAFT DETERMINATION BY PNG ICCC
    * PNG INDEPENDENT CONSUMER AND COMPETITION COMMISSION DRAFT
DETERMINATION REQUESTS COMMENTS AND SUBMISSIONS FROM
STAKEHOLDERS
    * ICCC ALSO DETERMINES THAT ACQUISITION WOULD NOT RESULT IN
PUBLIC
BENEFITS THAT OUTWEIGH DETRIMENTS TO PUBLIC
    * DRAFT DETERMINATION CONTAINS STATEMENTS AND REASONING
WHICH KINA
CONTESTS
    * ICCC IS NOT CURRENTLY SATISFIED, ACQUISITION WILL NOT, OR
WILL
NOT LIKELY, HAVE EFFECT OF LESSENING COMPETITION IN RELEVANT
MARKETS
    * WILL MAKE A PRESENTATION TO A PRE-DECISION CONFERENCE TO
BE HELD
ON 11 AUGUST
    * FINAL COMMENTS AND SUBMISSIONS ON DRAFT DETERMINATION ARE
DUE BY
20 AUG

Source ( https://bit.ly/3iKm1RT)
Further company coverage:  KSL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))