Business Services Industry
BT FINANCIAL GRP OUTLINES THREAT FROM NAB TAKEOVER OF AMP.
AsiaPulse News, November, 2003
SYDNEY, Nov 21 Asia Pulse - BT Financial Group today said a National Bank of Australia (NAB) Ltd (ASX:NAB) takeover of AMP Ltd (ASX:AMP) would be a risk to its business if it was executed well.
NAB holds a five per cent stake in AMP and has been eyeing it as a takeover target once the troubled financial services company demerges from its troubled United Kingdom businesses.
BT chief executive David Clarke today said the issue was difficult to assess but a takeover by NAB, Australia's largest bank, would make AMP many times the size of any other operator.
"If it's executed well, clearly they would be so much bigger than anyone else," Mr Clarke said when questioned by reporters at a media briefing.
"The flipside is that if it's executed...
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