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Bank of the Philippine Islands, PNB jump at open on merger talks
MANILA |
MANILA Nov 22 (Reuters) - Shares of the Bank of the Philippine Islands (BPI) and rival Philippine National Bank PNB climbed on Thursday after a one-day trading halt related to talks on the possibility of BPI acquiring a stake in PNB.
BPI jumped as much as 7.4 percent and PNB rose as much as 6.1 percent in early trades, pushing the financial sector sub-index up 2.4 percent. (Reporting by Rosemarie Francisco; Editing by John Mair)
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