Spending spree with merger in the mix

OPERATIONS AND STP

LONDON--Johannesburg-based Nedcor Bank is set to become Africa’s largest financial institution if its plans to merge with Cape Town’s BoE Merchant Bank later this year are realized. A completion date for the merger has not been set, but if Nedcor’s June 2000 failed hostile takeover bid of Standard Bank, South Africa’s largest financial institution, is anything to go by, this merger is far from a done deal. Unnamed sources in the Southern African banking industry are also speculating that

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