25.05.2012 - HSBC Oman, OIB merger 'halted' in Oman
Oman's Ministry of Commerce and Industry has halted the merger of HSBC Oman and Oman International Bank ( OIB ) following an objection raised by an India-based businessman. The order issued on May 16 by the Ministry of Commerce and Industry , Directorate-General of Commerce in Muscat, states that according to Article 13 bis 8 of Commercial Companies Law 4/74, the merger has been suspended unless the objection raised by the businessman is settled or withdrawn by him. Another option is that the said objection is overruled by a court order...............................................Full Article: Source
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