KUALA LUMPUR: CIMB Group Holdings Bhd has received Bank Negara Malaysia's approval in principle for the bank and its wholly owned subsidiary CIMB Group Sdn Bhd to start possible merger talks with RHB CAPITAL BHD [].
In a filing Tuesday, May 31, CIMB said it received the approval from the central bank on May 31 for it to commence negotiations with RHB Capital and its substantial shareholders for a possible merger of the businesses and undertakings of the two banking groups.
'The approval to commence negotiations is valid for a period of three months from the date of Bank Negara's letter.
'Further details on the possible merger will be announced in due course,' it said.
In a filing Tuesday, May 31, CIMB said it received the approval from the central bank on May 31 for it to commence negotiations with RHB Capital and its substantial shareholders for a possible merger of the businesses and undertakings of the two banking groups.
'The approval to commence negotiations is valid for a period of three months from the date of Bank Negara's letter.
'Further details on the possible merger will be announced in due course,' it said.
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