It was all systems go at ANZ last November when the Australian bank found itself bidding against private equity groups for a stake in AMMB, one of Malaysia’s top banks.
But within days of the talks going public, the Melbourne-based bank had scooped up a 13.5% stake. The following week, it secured a further 11.4%, bringing its stake to 24.9%, for a total outlay of A$833m ($717m).
