(Reuters) – Australian prosecutors have withdrawn all charges against Citigroup Inc, Deutsche Bank AG and four senior executives for allegedly colluding on a 2015 share sale, Australia’s competition regulator said on Friday.
The charges were based on two of three “arrangements” allegedly made between Citigroup Global Markets Australia and other banks to collude as a cartel during the Australia and New Zealand Banking Group stock issue.
The Australian Competition and Consumer Commission had referred the case to the Commonwealth Director of Public Prosecutions (CDPP) in mid-2017.
Last August, prosecutors had dropped criminal charges against Stephen Roberts, the former head of Citigroup in Australia, and narrowed their case against the bank and other finance companies.
“We respect the independent decision of the CDPP, and with them will consider what lessons can be learnt from this matter,” ACCC Chair Rod Sims said on Friday.
Citigroup, Deutsche Bank and ANZ did not immediately respond to a request for comment.
(Reporting by Harish Sridharan in Bengaluru; Editing by Sherry Jacob-Phillips)
