NAB (National Australia Bank Limited) has said talks over the possible divestment of AXA APH's (AXA Asia Pacific Holding) Wealth.net arm were still on-going just several hours before the exclusivity deal of NAB over its $13.3 billion offer lapses.

The extended exclusivity contract of NAB with AXA APH and its French mother AXA SA is set to expire on Friday, at exactly 0001 AEST.

From that specific time onward, AXA SA and AXA APH would be free to cut off the agreement and look at other offers for the assets manager and insurance firm based in Melbourne.

AMP, a firm based in Sydney, has yet to make up their mind in presenting a new bid to AXA PH, higher than its previously lapsed offer of $12.85 billion.

NAB was given an extension period for its first exclusivity agreement that started in June 1, so the bank can gain approval from ACCC (Australian Competition and Consumer Commission), which barred its previous offer last April 19 due to competition regulations.

A spokesman from NAB, according to an AAP report, said that talks with other parties were underway regarding the Wealth.net investment program of AXA APH, but did not disclose the details of the on-going discussions.

NAB is also talking with Australia's competition regulator, ACCC, as of the moment. ACCC also has yet to release the specific details on why it blocked the original bid of NAB, and there is still no exact date for this publication, according to an AAP interview with ACCC's spokeswoman.