Bank Dhofar to start merger talks with Bank Sohar
Muscat, July 16, 2013
Bank Dhofar, Oman's second-largest bank by market value, said on Tuesday it would begin talks with fellow lender Bank Sohar over a possible merger.
Any potential tie-up would be dependent on a similar desire to merge at Bank Sohar, satisfactory due diligence and the approval of both sets of shareholders and the regulatory authority, Bank Dhofar said in a bourse filing.
In February, Bank Sohar denied it had received any merger proposals from other banks, including Bank Dhofar, in response to local press reports. - Reuters
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