Broker Center sponsored links

Malaysia's Maybank to buy stake in Pakistan's MCB

Sun May 4, 2008 10:52pm EDT
 
Email | Print | | Reprints | Single Page
[-] Text [+]

KUALA LUMPUR, May 5 (Reuters) - Malaysia's largest lender, Malayan Banking Bhd (Maybank) (MBBM.KL: Quote, Profile, Research, Stock Buzz), is buying a strategic stake in Pakistan's biggest listed lender, MCB Bank (MCB.KA: Quote, Profile, Research, Stock Buzz), according to Maybank presentation material seen by Reuters on Monday.

The information was contained in a slide projected onto the backdrop of a stage where Maybank was due at 0300 GMT to announce a major acquisition. Its shares have been suspended since Friday, pending the announcement.

The slide gave no more details.

(Reporting by Jalil Hamid, editing by Mark Bendeich)

 

Featured Broker sponsored link

Editor's Choice

Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters