Loading...
See More

Take-over talks boost Nedbank, Old Mutual

May 12 2010 13:10

Company Data

NEDBANK GROUP LIMITED [JSE:NED]

Last traded 0
Change -1,24
% Change 0
Cumulative volume 472764
Market cap 121.82bn

Last Updated: 19-12-2014 at 04:40. Prices are delayed by 15 minutes. Source: McGregor BFA

OLD MUTUAL PLC [JSE:OML]

Last traded 0
Change -0,5
% Change 0
Cumulative volume 7668661
Market cap 165.35bn

Last Updated: 19-12-2014 at 04:41. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Nedbank in line with forecasts

Nedbank sees better earnings

Nedbank's growth path questioned

Nedbank hits sombre growth note

Nedbank: row brewing over Wyman

Old Mutual to sell Nedbank stake?

 

Johannesburg - Rumours that emerging markets bank Standard Chartered is poised to take over Nedbank boosted banking stocks on the JSE on Wednesday.

UK-based Sky News is reporting in an exclusive that Standard Chartered is plotting a multi-billion pound takeover of Nedbank [JSE:NED]. The news agency said that talks have apparently already started, although they are still at a relatively early stage.

In response, the two companies said they do not comment on market rumours.

"That rumour has been around for a while now. We don't comment on speculation and rumour. If it was something official then maybe we'd talk," said Don Bowden, investor relations consultant at Nedbank.

"That's market speculation and our policy is that we don't comment on market speculation," said a Standard Chartered South Africa spokesperson.

By 12:30 Nedbank was trading almost 3.5% higher at R139.75. Associate Old Mutual [JSE:OML] was 4.38% stronger at 1 312c.

The JSE's banks index was up 1.6% by noon.
   
 - I-Net Bridge

old mutual [jse:oml]
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
8 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...