By PAUL PANCKHURST
The Commerce Commission ruling on ANZ's application for clearance to buy the National Bank is one of the biggest events on this week's business agenda.
The commission is due to issue a decision on Thursday.
ANZ has already conceded that it would breach Commerce Commission "safe harbour" thresholds in
several banking markets but says competition is strong enough for a deal to proceed.
In its application, ANZ said the breaches would be in the mortgage market, the personal loan market, the small- and medium-sized business market, middle corporate market, the term deposit and savings market, and credit-card issuing.
The withdrawal of Westpac left ANZ as the only bidder seeking Commerce Commission approval.
The sale of National by Britain's Lloyds TSB would be New Zealand's biggest such transaction. The asset's value has been put at $5.5 billion to $7 billion.
The shortage of contenders fronting up to the commission for clearance has buoyed the hopes of those wanting the bank to be floated on the sharemarket.
Elsewhere, Pacific Retail Group shareholders will hear more about the listed company's bold foray into Britain at Wednesday's annual meeting in Auckland.
The mostly Eric Watson-owned PRG this month bought Powerhouse, an appliance retailer in receivership, for $48 million.
Chief executive Peter Halkett has moved to Britain to run the business.
Also expected this week is a meeting of the board of Fletcher Challenge Forests. The company is trying to sell its forest estate and faces the complication of a late cash-and-shares bid from a locally led consortium.
