KUALA LUMPUR, May 31 (Reuters) - RHB Bank Bhd and AMMB Holdings Bhd (AmBank) will begin merger talks to create one of Malaysia’s biggest lenders, two sources familiar with the matter said on Wednesday.
The banks could announce as early as Thursday that they have received approval from the central bank to commence merger negotiations, the sources said, speaking on condition of anonymity as the contacts are private.
RHB and AmBank on Wednesday requested the national stock exchange to suspend trading in their shares on Thursday, “pending a material announcement.”
AmBank declined to comment. An RHB spokeswoman said the company would make an official announcement in due course. (Reporting by Liz Lee, Praveen Menon and A. Ananthalakshmi; Editing by Mark Potter)