Australia's competition watchdog said it is seeking more information on certain competition issues from the bidders for fund manager AXA Asia Pacific Holdings and hoped to make a decision on the bids by Match 17.
"The Statement of Issues seeks further information on certain competition issues identified with respect to each of the proposals which have arisen from the ACCC's market inquiries," the Australian Competition and Consumer Commission said in a statement.
Australian wealth manager AMP and France's AXA SA teamed last year to jointly bid for AXA Asia Pacific while National Australia Bank followed with a rival bid.
AMP and AXA SA's exclusivity agreement to bid for AXA Asia Pacific expired on Saturday, and AMP has said it was considering its position.
AXA Asia Pacific's directors rejected AMP's offer and backed NAB's all cash offer, but AMP is counting on competition concerns complicating NAB's bid which would leave the door open for it to come back with another offer.
Reuters
