Kuala Lumpur: The country's two largest banks, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, will face-off against each other in pursuing a merger with smaller rival RHB Capital Bhd (RHBCap).
A merger of either bank with RHBCap would create one of the largest banking groups in Southeast Asia.
The two banks, in separate filings to the stock exchange late yesterday, said Bank Negara Malaysia had "no objection in principle" to them starting preliminary negotiations with RHBCap and its substantial shareholders for a possible merger.
The central bank's approval for them to start talks is valid for three months, from yesterday.
Read more: Maybank-CIMB face-off over RHBCap http://www.btimes.com.my/articles/maycim-2/Article/#ixzz1NzmxzmPX
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