KUALA LUMPUR: MALAYAN BANKING BHD [] has received Bank Negara Malaysia's approval in principle for the bank to start possible merger talks with RHB CAPITAL BHD [].
In a statement to Bursa Malaysia on Tuesday, May 31, Maybank 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 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 announcements will be made at the appropriate time,' it said.
In a statement to Bursa Malaysia on Tuesday, May 31, Maybank 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 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 announcements will be made at the appropriate time,' it said.
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