Westpac’s October announcement that it no longer planned to sell its remaining businesses in Papua New Guinea and Fiji, and its statement to the Australian Stock Exchange that it would increase investment in its subsidiaries, was warmly welcomed by governments and the business community in those countries.
Westpac first announced its plan to sell its Pacific businesses in December 2020, but an AU$420 million attempt by Kina Securities to buy the operations was stymied by PNG’s Independent Consumer and Competition Commission, which said it would “limit national economic progress.”
BRED Banque Populaire . . .
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