First Abu Dhabi Bank reiterates not eyeing offer for StanChart | Reuters
First Abu Dhabi Bank (FAB.AD) (FAB), the United Arab Emirates' biggest lender, said on Friday it was not currently evaluating an offer for Britain's Standard Chartered (STAN.L), the second time it has quashed reports of an imminent bid.
News of the potential offer first came on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing so.
StanChart's shares fell nearly 5% early on Friday following the statement, having risen 11% the day before after Bloomberg News reported that the Abu Dhabi lender was considering reviving the bid once a lock-up period that prevents it immediately doing so expires.
"First Abu Dhabi Bank PJSC notes the recent press speculation in relation to Standard Chartered and re-iterates that it is not evaluating a possible offer for Standard Chartered," the lender said in Friday's statement.
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