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Competition, IPO option means ANZ will fetch a “decent price” for wealth unit

ANZ is in a good position to fetch a “decent price” for its wealth unit, since the lender could list the business separately if the three shortlisted bidders fail to impress with their offers, according to Omkar Joshi, a Sydney-based portfolio manager at Regal Funds Management. The consensus valuation of the division – which includes life insurance and fund management operations – is “A$4-5…

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