PNG regulator rejects proposed sale of Westpac's Pacific businesses

Kina Securities

26/07/2021 08:12

July 26 (Reuters) - Papua New Guinea's competition regulator
has rejected Kina Securities'  KSL.AX  A$420 million ($308.45
million) proposed stake purchase in Westpac Banking Corp's
 WBC.AX  Pacific operations, the financial services provider
said on Monday.
    Both parties are reviewing the regulator's draft and will
make further submissions to the Independent Consumer and
Competition Commission before it takes a final decision in
September, Westpac added. 
    
    


($1 = 1.3617 Australian dollars)

 (Reporting by Anushka Trivedi in Bengaluru)
 ((Anushka.Trivedi@thomsonreuters.com; +918061823241;))