21st Mar 2016 12:50
LONDON (Alliance News) - Singapore-based DBS Group Holdings has emerged as the frontrunner to acquire Barclays PLC's private wealth units in Singapore and Hong Kong, Reuters reported.
The other bidder left in the race is Overseas China Banking Corp, also based in Singapore, Reuters said, citing sources with knowledge of the situation.
The sources said a deal has not been done but said it was now between DBS and OCBC to acquire the assets, thought to be worth around USD300.0 million.
http://uk.reuters.com/article/uk-barclays-wealth-asia-idUKKCN0WN107
By Sam Unsted; [email protected]; @SamUAtAlliance
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