SINGAPORE (Reuters) - DBS Group Holdings Ltd (SI:DBSM) said on Friday there was no basis to a report by securities brokerage CLSA that the Singaporean bank could buy Standard Chartered PLC (L:STAN).
"There is no basis to the report, and it is not on our agenda," a DBS spokeswoman said in a statement.
British bank Standard Chartered could be acquired by a white knight as its recovery could prove to be "challenging" and DBS would be the most likely buyer, CLSA said in a note to clients dated Dec. 17.
Singapore state investor Temasek Holdings Pte Ltd (TEM.UL) is the biggest shareholder in both Standard Chartered and DBS.