It will take two more weeks for the Commerce Commission to decide whether AMP's proposed acquisition of AXA Asia Pacific Holding's New Zealand assets passes its obstacles or not. According to the regulator's website, the commission has postponed the decision for two weeks until June 25.

AMP's offer is part of a wider A$12.85 billion bid for AXA APH that was, later on trumped by National Australia Bank's A$13.29 billion offer. It is yet to be decided by the Sydney-based wealth manager and insurer whether to submit a higher offer.

As there a lot of independent competitors left in the market and there is an incessant risk from their expansion ambitions, AMP's clearance application, which was submitted in early May, disagreed the acquisition would not considerably reduce competition.

AMP stated that there was the least possibility that vertical integration could be a hurdle, since the New Zealand funds management businesses of both AMP and AXA APH were already vertically incorporated in that they offer in both wholesale, as well as retail funds.

AMP added that there is an existence of a lot of other retail and wholesale fund managers and two other important retail wrap platform providers.