Australia competition regulator questions benefits of ANZ's $3.3b Suncorp buyout

Australia competition regulator questions benefits of ANZ's $3.3b Suncorp buyout

FILE PHOTO: A Suncorp Group Ltd sign adorns their office building in Sydney, Australia, August 4, 2015. REUTERS/David Gray

Australia’s competition regulator said it was unconvinced a planned A$4.9 billion ($3.32 billion) buyout by Australia and New Zealand Banking Group Ltd of a smaller rival would bring public benefits, in a blow to one of the year’s biggest deals.