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(Reuters) - Australian lender Westpac said on Wednesday it had cancelled the sale of its Fiji and Papua New Guinea businesses, ending a years-long process that was beset by regulatory problems.
The company has been trying to leave the pacific for years, with its A$420 million ($264.77 million) divestment deal with Kina Securities back in 2021 being blocked by a Papua New Guinea regulator.
"Any failure to successfully divest businesses means that we may have sustained exposure to higher operati...
>>> Read more: Australia's Westpac fails to sell pacific banking business
The company has been trying to leave the pacific for years, with its A$420 million ($264.77 million) divestment deal with Kina Securities back in 2021 being blocked by a Papua New Guinea regulator.
"Any failure to successfully divest businesses means that we may have sustained exposure to higher operati...
>>> Read more: Australia's Westpac fails to sell pacific banking business
