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ACCC Chairman Graeme Samuel Steps Aside From NAB/AXA Decision - Quick Facts
August 18, 2010, Wednesday, 11:22 GMT | 06:22 EST | 15:52 IST | 18:22 SGT
(RTTNews) - Australian Competition and Consumer Commission or ACCC chairman Graeme Samuel has indicated that he will step aside from deliberations on National Australia Bank Ltd's (NAUBF.PK, NABZY.PK, NAB.AX) proposed takeover of AXA Asia Pacific Holdings Ltd.
Samuel advised that he considered this course of action necessary to remove any perception of a conflict of interest concerning his family's investment in DFO shopping centre chain.
ACCC said that NAB and AXA have been consulted and expressed no concern at Samuel's continuing involvement. However the Commission accepted Samuel's position that he would cease to be involved in any further Commission deliberations on the NAB/AXA merger proposal.
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