Tuesday, 17 April 2012

CIMB to update “soon” on Philippines Bank of Commerce stake buy, says Nazir

KUALA LUMPUR (APRIL 17): CIMB Group Holdings Bhd chief executive Dato' Sri Nazir Razak said the company would announce an update on the potential acquisition of a stake in Philippines' Bank of Commerce (BoC) "soon". Speaking after the banking group’s AGM this here, he said negotiations were ongoing and that foreign ownership in Philippine banks was capped at 60%.

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