Mega Malaysian bank merger clears Abu Dhabi hurdle

Singapore

A MAJOR stumbling block to Malaysia's ambitious multi-billion dollar bank merger between CIMB Group, RHB Capital and Malaysia Building Society Bhd may have been cleared, owing to high-level talks between the leaders of Malaysia and Abu Dhabi.

BT understands that after much suasion by the Malaysian side, the deal's chief opposer, Aabar Investment, owned by Abu Dhabi's sovereign wealth fund, has indicated that it would vote in favour of the big bank merger at a yet-to-be convened meeting to garner shareholder approval.