Australia's AXA Asia says no longer pursuing MAA

SYDNEY, May 16 (Reuters) - Australia's AXA Asia Pacific Holdings Ltd (AXA.AX: Quote, Profile, Research, Stock Buzz) said on Friday it was no longer pursuing the possible acquisition of Malaysian Assurance Alliance Bhd (MAA), the insurance arm of MAA Holdings Bhd (MAAS.KL: Quote, Profile, Research, Stock Buzz).

MAA said last September it had received central bank approval to start talks with four potential bidders for a stake of up to 49 percent in the business.

AXA Asia Pacific said it remained committed to the Malaysian market through its existing AXA AFFIN joint venture. (Reporting by Richard Pullin)