PNG regulator denies stake sale of Westpac's Pacific businesses

Kina Securities

13/09/2021 23:26

Sept 14 (Reuters) - Papua New Guinea's competition regulator
made a final decision to reject Kina Securities'  KSL.AX 
proposed stake acquisition in Westpac Banking Corp's  WBC.AX 
Pacific operations, Australia's second-biggest lender said on
Tuesday.
    Westpac in a statement acknowledged the decision by PNG's
Independent Consumer and Competition Commission (ICCC) to deny
the authorisation, adding it will continue to operate its
Pacific businesses.

 (Reporting by Sameer Manekar in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((Sameer.Manekar@thomsonreuters.com; +918061823447;))