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Standard Chartered frontrunner to buy Oyak Bank - report


Published : Fri, 19 Jan 2007 07:42
By : Agencies
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LONDON (AFX) - Standard Chartered PLC, the emerging markets bank, is the frontrunner to buy medium-sized Turkish lender Oyak Bank in a deal that could be worth up to 2 bln usd (1 bln stg), according to the Financial Times.

Standard Chartered has been in talks with Oyak Bank for several months and people familiar with the deal said no formal agreement was imminent, the newspaper added.

However, the talks are a sign that Standard Chartered continues to pursue deals in emerging markets following the elevation of Mervyn Davies to chairman, the article added.

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