Malaysia's CIMB shares fall 2.7% on reports of merger failure

[KUALA LUMPUR] Shares of Malaysia's CIMB Group Holdings slid 2.7 per cent on reports that plans to merge the bank with two smaller lenders had been called off.

CIMB closed 14.3 per cent higher on Tuesday, its biggest single-day percentage gain since Feb 22, 2001. The bank said late on Tuesday talks on the three-way merger were ongoing and that any material development would be disclosed through the stock exchange.

REUTERS