Merger of Saudi banks Alawwal and SABB to go ahead despite delays: sources:
"The proposed merger of Saudi British Bank 1060.SE(SABB) and Alawwal Bank 1040.SE has been delayed but not derailed, financial sector sources said. SABB, 40 percent owned by HSBC Holdings (HSBA.L), and Alawwal, 40 percent owned by Royal Bank of Scotland (RBS.L), announced in April that they had agreed to start talks. But progress has since faltered because of the complexity of the deal and for shareholder assessment of any potential impact from the kingdom’s anti-corruption drive, the sources said."
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