Published:
CIMB ceases merger talks with RHB
“Based on our various discussions and our assessment of the present expectations of key stakeholders, we do not believe that we will be able to arrive at a value creating merger, said Dato’ Sri Nazir Razak, Group Chief Executive, CIMB Group.
Here’s more of what he said:
| “Merger negotiations are both resource consuming and distracting for staff and stakeholders. Therefore, we prefer not to prolong our discussions unnecessarily, allowing all parties to return to ‘business as usual’ as soon as possible.” |
CIMB Group’s Board also stated its sincere appreciation to RHB’s Board of Directors and management for agreeing to engage and participate in discussions.
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