Summary
ROYAL Bank of Scotland yesterday began the new year with another setback as the deal to sell its Pakistani operation to Karachi's MCB Bank failed to win regulatory approval.
The deal, which was agreed last August, had appeared a sure thing but MCB admitted in a letter to the Pakistani stock exchange that it had failed to secure regulatory approval before the transaction deadline of 31 December.See the full content of this document
Extract
Snag Hits Gbp 54m Rbs Deal to Sell Operation in Pakistan
The disposal was worth about dollars 87 million (GBP 54m) to RBS, which is seeking to offload a number of its international assets, ide...
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