June 14, 2011 / 2:14 PM / 8 years ago

Nigeria's Interco Bank says recap plans on course

LAGOS, June 14 (Reuters) - Nigeria’s Intercontinental Bank INTERCO.LG said on Tuesday a recapitalisation deal with local peer Access Bank was on course after a court overturned an injunction sought by shareholders seeking to block the deal.

“Following today’s vacation of the High Court’s injunction ... the management of Intercontinental Bank has assured that it would speedily conclude its recapitalisation programme ahead of the central bank’s deadline in September,” Intercontinental said in a statement.

For full Reuters Africa coverage and to have your say on the top issues, visit: af.reuters.com/ Reporting by Oludare Mayowa; Writing by Nick Tattersall

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