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ACCC will not oppose Commonwealth Bank, Aussie Home Loans deal

The Australian Competition and Consumer Commission announced it is not opposing the Commonwealth Bank’s proposed acquisition of the remaining 67% of Aussie Home Loans. The Commonwealth Bank already owns 33% of the company’s shares. ACCC chairman Rod Sims said in a statement it considered competitive restraint in the industry. “In reaching its view, the ACCC […]
Myriam Robin
Myriam Robin
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The Australian Competition and Consumer Commission announced it is not opposing the Commonwealth Bank’s proposed acquisition of the remaining 67% of Aussie Home Loans.

The Commonwealth Bank already owns 33% of the company’s shares.

ACCC chairman Rod Sims said in a statement it considered competitive restraint in the industry.

“In reaching its view, the ACCC took into account the competitive constraint arising from the presence of a number of alternative suppliers of home loan products and mortgage distribution services,” he says.

This story first appeared on LeadingCompany’s sister site, SmartCompany.

About the author

Myriam Robin

Myriam Robin is a reporter for SmartCompany and its sister site LeadingCompany. She has degrees in economics, international studies and journalism. She likes writing about businesses taking risks and doing new things.

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