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Islamic Finance Briefing - Categorized | Banking, Market Moves more

RHB Capital shares jump as Maybank, CIMB start fight to buy Malaysian Bank

Posted on 02 June 2011

RHB Capital Bhd. (RHBC) surged to a 14-year high after CIMB Group Holdings Bhd. (CIMB) and Malayan Banking Bhd. (MAY) won central bank approval to begin separate merger talks, triggering a battle to potentially create Southeast Asia’s biggest bank.
The Kuala Lumpur-based lender jumped 7.4 percent to 9.90 ringgit at the 5 p.m. close in Kuala Lumpur trading, its highest close since March 1997. With a market value of 21.7 billion ringgit ($7.2 billion), this would be the biggest banking deal in the Asia-Pacific region in the past three years, according to data compiled by Bloomberg……………………………………….Full Article: Source

 
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