CIMB has decided against acquiring the controlling 60% stake in the Philippine lender, Bank of Commerce, from San Miguel Corp for billion $277 million, after the parties failed to reach an agreement on new terms; it was to have marked the first time CIMB had made a move into the Philippines, where it still does not have an on-the-ground presence.
CIMB has decided against acquiring the controlling 60% stake in the Philippine lender, Bank of Commerce, from San Miguel Corp for $277m, after the parties failed to reach an agreement on new terms; it was to have marked the first time CIMB had made a move into the Philippines, where it still does not have an on-the-ground presence.