Corporate

AMP A$3.5b deal their own fault - RBNZ

The collapse of a multi-billion dollar deal to sell AMP's life insurance division to a British company for $3.6 billion is the fault of the companies, according to the Reserve Bank.

The central bank has told RNZ that the buyer, Resolution, and AMP notified it of the proposal last September, but only put in a formal application for RBNZ approval last month.

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