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Two-horse race for ANZ’s domestic wealth business as AIA Group bails

AIA Group no longer plans to submit a final bid for ANZ’s domestic wealth business, according to a report today by the Australian Financial Review, citing unnamed sources. That leaves just MetLife and Zurich Insurance Group in the running, with the deadline for second-round bids set for 15 September. Although AIA has not formally withdrawn from the bidding process, it…

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