AUSTRALIAN COMPETITION BODY TO DECIDE ON WESTPAC-AGC CASE.

AsiaPulse News, April, 2002

SYDNEY, April 2 Asia Pulse - The Australian Competition and Consumer Commission (ACCC) is expected to make a decision on whether to allow Westpac Banking Corp Ltd to sell its AGC arm to US company GE Capital by the end of this month.

The ACCC is still reviewing the mooted sale, over which talks began last November and from which Westpac could reap up to $1.5 billion.

"We are still making market inquiries on AGC," an ACCC spokeswoman said today.

"We have made no decision yet.

"It will be a few weeks before we make a decision."

The spokeswoman said the ACCC was currently talking to AGC's market rivals, customers and the company about the proposed sale.

The ACCC had to work out whether there would be any overlap if GE...