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01/07/2015 03:42 AST
Al Omaniya said separately that it had submitted an indicative bid to buy 100 per cent of the shares in United Finance.
Oman's United Finance said on Tuesday its board was considering a non-binding takeover offer from Al Omaniya Financial Services. Al Omaniya said separately that it had submitted an indicative bid to buy 100 per cent of the shares in United Finance.
In May, United Finance invited National Bank of Oman, Bank Nizwa and Al Omaniya to participate in an acquisition bidding process. The other two institutions have decided not to bid. United Finance offers loans and leasing services as well as corporate deposits.
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Talks for a possible takeover of Oman's United Finance by Al Omaniya Financial Services have broken down and will not progress any further, the two sides said on Monday.
The board of Unite
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