French insurer AXA SA (AXA) said Monday it had taken note of the Australian competition regulator's decision to oppose National Australia Bank Ltd.'s (NAB) A$13.29 billion plan to take over the Australian and New Zealand assets of Axa Asia Pacific Holdings Ltd. (AXA.AU).

AXA SA, which owns 53.9% of AXA APH, had agreed to sell its shares to NAB and then buy back the Asian assets of the target. It had previously struck a similar deal with wealth manager AMP Ltd. (AMP.AU) before NAB put forward a bid that won the favor of AXA APH's independent directors.

In a statement Monday, AXA SA said it "notes the announcement by NAB of a review" of the regulator's decision, and pointed out that NAB has six weeks in which to address the regulator's concern.

AXA SA also said it "acknowledges AMP's announcement earlier today indicating AMP's continued interest in a potential transaction with AXA APH."

-By Jethro Mullen, Dow Jones Newswires; 33 1 4017 1738; jethro.mullen@dowjones.com
AMP (ASX:AMP)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more AMP Charts.
AMP (ASX:AMP)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more AMP Charts.