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FAB comments on news over Bank Audi’s equity

FAB comments on news over Bank Audi’s equity

ArabFinance: UAE lender First Abu Dhabi Bank (FAB) said any future updates on the potential acquisition of Bank Audi’s assets in Egypt will be disclosed to the Abu Dhabi Securities Exchange (ADX) in due course, according to a September 7th filing to the ADX.

The UAE financial institution made this statement in reference to “recent news reports with regards to FAB restarting discussion to acquire Bank Audi Egypt,” according to the statement.

FAB stressed that its policy allows it to not comment on “market rumors or speculation,” the ADX filing added.

Sources recently told Reuters that FAB plans to resume its talks to acquire the Lebanese bank’s assets in the Arab republic.

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