National Australia Bank (NAB.AU) said Tuesday it is pursuing its options in regards to its proposed purchase of AXA Asia Pacific Holdings ltd. (AXA.AU) after the deal was blocked Monday by the country's competition regulator.

"There are a range of options open to NAB and these are being actively pursued," the bank said in a statement.

NAB said it does not agree with the Australian Competition and Consumer Commission's decision to block the deal based on concerns about competition in the retail investment market.

NAB said it agrees with the agency's stance that the proposed merger wouldn't create competition in the superannuation, or pension fund, insurance and banking sectors.

The bank said it was disappointed with the agency's findings after the "extensive consultation" it undertook with the ACCC.

The blocking of the deal means AMP Ltd. (AMP.AU), which also bid for AXA APH, could renew its pursuit for the funds manager.

-By Cynthia Koons; Dow Jones Newswires; 61-2-8272-4691; cynthia.koons@dowjones.com
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