ANZ cools Wing Hang play

Lender pulls back from pursuit of Hong Kong bank as price too high.

Australia and New Zealand Banking Group (ANZ) has cooled its pursuit of Hong Kong’s Wing Hang Bank because the price tag attached to the $5 billion group is too high, The Australian Financial Review reports.

According to the newspaper, the Australian lender will reconsider if the asking price were too drop.

Sources told the AFR the lender had mulled a tilt at the Hong Kong bank earlier this week.

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