November 8, 2018 / 8:34 AM / 6 days ago

Turkey's competition authority says Emirates NBD applies for Denizbank takeover

ISTANBUL, Nov 8 (Reuters) - Dubai’s biggest lender Emirates NBD has applied to Turkey’s competition authority to take over Turkish lender Denizbank, a posting on the competition authority’s website showed on Thursday.

In May, Emirates NBD agreed to buy Denizbank from Russia’s state-owned Sberbank for $3.2 billion to help establish itself as a leading bank in the Middle East, North Africa and Turkey. (Reporting by Ebru Tuncay Writing by Ali Kucukgocmen Editing by Daren Butler)

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