Friday, October 14, 2011

RHB Cap, OSK up on BNM nod for talks

KUALA LUMPUR: Shares of RHB CAPITAL BHD [] and OSK HOLDINGS BHD [] rose in active trade on Friday, Oct 14 after both financial institutions received the central bank's approval for them to start talks for a possible merger.

At 2.50pm, OSK was up 11 sen to RM1.79 with 37.57 million shares done. RHB Cap advanced 15 sen to RM7.59 with 1.64 million units done.

RHB Cap and OSK announced they had received Bank Negara Malaysia's approval to commence negotiations for a possible merger of businesses between the RHB banking group and OSK investment banking group.

OSK said the approval to commence negotiations was valid for three months from the date of Bank Negara's letter.

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