• ANZ Banking Group Ltd


  • E*Trade Australia


ANZ Banking Group proposes to acquire the remaining 65.8% of shares in E*Trade Australia Ltd.

Market definition

For the purposes of this competition assessment the relevant markets were considered to be:

1. the national market for stock broking; and
2. the national market for funds broking.

Competition analysis

The ACCC formed the view that the proposed acquisition is unlikely to substantially lessen competition in the relevant markets, as it represents an increase in the level of ownership by the major shareholder in an existing market participant, and does not change the competitive structure of the market. The merged firm will continue to face competition from a large number of competitors.


Date Event

ACCC commences review under the Merger Review Process Guidelines

Closing date for submissions from interested parties

ACCC announced it would not oppose the proposed acquisition