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Taiwan: Authorities okay bank merger

By  |  May 8, 2014

The Fair Trade Commission in Taiwan has reportedly given its approval for a banking merger proposed by China Development Financial Holding Corp.

China Development Financial’s flagship bank China Development Industrial Bank will reportedly be acquired and merged with mid-sized Cosmos Bank. Regulators did not find sufficient evidence that the deal would harm competition, as Cosmos is a commercial bank and China Development Industrial specializes in investment banking according to reports.

China Development Financial first announced last February that it plans to incorporate Cosmos Bank into the firm to strengthen its presence n the commercial banking industry. The companies now expect to finalize the deal in July.

Full content: Focus Taiwan

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