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Merger Of Habubank And Saigon Hanoi Bank 0 comments
This is a follow up to my previous post on the takeover of Habubank (HBB) by Saigon Hanoi bank (SHB). Soon after the rumors of the merger was circulated (and the near doubling of Habubank shares), both banks issued denials. Even the State Bank of Vietnam, whose approval the banks needed to merge, denied giving approval.
Notwithstanding this, the trading pattern of the banks told us a different story. While the price of Saigon Hanoi Bank had stayed roughly similar to its price a month ago, Habubank shares had moved up relative to Saigon Hanoi Bank.
As is usual, when in doubt, follow the trading pattern if we want to know if the merger will go through.
Now, we finally have the first confirmation that the deal will be going ahead:
http://vninvestment.wordpress.com/2012/04/26/merger-of-habubank-and-saigon-hanoi-bank/
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