Standard Chartered Plc’s chief financial officer said the bank has had no contact with First Abu Dhabi Bank PJSC despite continuing speculation about a potential takeover bid for the emerging markets-focused lender.
“There has been no contact whatsoever,” Andy Halford said in an interview with Bloomberg Television. “We’re not going to comment on speculation.”
Halford also said that the bank’s bigger-than-expected $1 billion share buyback announced Thursday alongside the London-based bank’s fourth-quarter results wasn’t a defensive move designed to shore up investor support against any bid.
“We would have done this whatever the speculation was out there,” he said.
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