AMP is remaining tight lipped over the status of its discussions with Axa Asia Pacific's (Axa AP) French parent Axa SA.
On Friday, Axa AP released a statement to the Australian Securities Exchange (ASX) confirming it was aware of discussions between AMP and Axa SA about the purchase of Axa AP, though cautioned no official arrangement had been struck.
"Axa AP confirms it has been aware of discussions between Axa SA and AMP regarding their interest in acquiring its businesses," the statement said.
"However, the discussions are incomplete and may or may not lead to a transaction."
An AMP spokesperson would not confirm whether an official bid for Axa AP by the financial services giant was imminent, only stating AMP has "always had an ongoing dialogue" with Axa SA.
An Axa AP spokesperson was unable to comment any further on the nature of the discussions.
Earlier this year, the Australian Competition and Consumer Commission (ACCC) opposed National Australia Bank's (NAB) proposed acquisition of Axa AP.
The ACCC upheld its opposition to NAB's bid in September.
In April, the ACCC found a merger between NAB and Axa would result in a substantial lessening of competition in the market for retail investment platforms for investors with complex investment needs.
However, the ACCC found an independent Axa or a merger between AMP and Axa would not have this effect.
"The ACCC concluded that because AMP does not own its own wrap platform it is constrained in its ability to compete aggressively," ACCC chair Graeme Samuel said at the time.
