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Singapore's DBS says no basis of CLSA report it could buy StanChart

Published 18/12/2015, 09:03
© Reuters. People use DBS bank tellers at a branch in their headquarters in Singapore
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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.

© Reuters. People use DBS bank tellers at a branch in their headquarters in Singapore

Singapore state investor Temasek Holdings Pte Ltd (TEM.UL) is the biggest shareholder in both Standard Chartered and DBS.

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