Any merger between ANZ and Standard Chartered would be "theoretical", with a high execution risk and "something both organisations would have to want badly," ANZ's managing director, Mike Smith, said in an interview with the Financial Review.
"It’s an incredibly difficult thing to manoeuvre, because we’re a similar sized bank. The only way that would work is if everybody was comfortable to dance," Smith told the newspaper.
"You’ve both got to want to dance, and invariably when you have a meeting of equals somebody is in a better spot than the other."
- ANZ and Standard Chartered merger 'theoretical'
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01 October 2012 7:10am
