MIDEAST STOCKS-Abu Dhabi shares up, eyeing bank merger, U.S. trade disputes weigh elsewhere | Reuters:
Abu Dhabi shares rose at the open on Tuesday after Abu Dhabi Commercial Bank (ADCB) said it was exploring potential merger talks with two other lenders, while regional markets were muted amid continued U.S. trade disputes with other countries.
ADCB on Monday said it was in early merger talks with Union National Bank (UNB) and Al Hilal Bank, which could potentially form a lender with $113 billion in assets.
“Investors are reacting to the positive news of the potential merger ADCB and UNB and possibly Al Hilal Bank,” said Tariq Qaqish, managing director of the asset-management division at Mena Corp. Financial Services in Dubai.
No comments:
Post a Comment