Potential hurdles for M'sia megabank deal
Hong Kong
MALAYSIA'S three-way US$26 billion bank deal is far from done. A merger of CIMB Group with two smaller rivals will create the country's largest bank by assets. Yet, current share prices point to hurdles, including potential opposition from an Abu Dhabi sovereign investor or even a counterbid. A Malaysian pension fund could seal the deal, but only if it is allowed to vote.
Under terms submitted for approval to the central bank, RHB Capital will issue shares to acquire the much larger CIMB. The latter's privately-held Islamic banking subsidiary will also acquire another listed bank, Malaysian Bu…
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