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NewsUpdate Affin denies rumours of takeover talks with AMMB
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Update Affin denies rumours of takeover talks with AMMB
by Cals Mon 22 Apr 2013, 14:07
Update Affin denies rumours of takeover talks with AMMB
Business & Markets 2013
Written by Ho Ching Ling of theedgemalaysia.com
Monday, 22 April 2013 13:44
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KUALA LUMPUR (April 22): AFFIN HOLDINGS BHD [] has denied rumours that it is in talks with AMMB HOLDINGS BHD [] on a potential takeover offer by the latter.
An English weekly paper reported last week that AMMB was looking to acquire both Affin and Bank Muamalat.
However, Affin has denied the rumours and said the bank is not looking at any other mergers and acquisitions (M&As) other than its ongoing negotiations with HWANG-DBS (M) BHD [] to acquire the latter's investment banking business.
"I can confirm with you that we are not talking to anyone else [other than Hwang-DBS] on any other divestments or M&As," said Affin's deputy chairman Tan Sri Lodin Wok Kamaruddin after Affin's annual general meeting today.
Both Affin and AMMB have been shortlisted to acquire the investment banking and securities business of Hwang-DBS.
Business & Markets 2013
Written by Ho Ching Ling of theedgemalaysia.com
Monday, 22 April 2013 13:44
A + / A - / Reset
KUALA LUMPUR (April 22): AFFIN HOLDINGS BHD [] has denied rumours that it is in talks with AMMB HOLDINGS BHD [] on a potential takeover offer by the latter.
An English weekly paper reported last week that AMMB was looking to acquire both Affin and Bank Muamalat.
However, Affin has denied the rumours and said the bank is not looking at any other mergers and acquisitions (M&As) other than its ongoing negotiations with HWANG-DBS (M) BHD [] to acquire the latter's investment banking business.
"I can confirm with you that we are not talking to anyone else [other than Hwang-DBS] on any other divestments or M&As," said Affin's deputy chairman Tan Sri Lodin Wok Kamaruddin after Affin's annual general meeting today.
Both Affin and AMMB have been shortlisted to acquire the investment banking and securities business of Hwang-DBS.
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