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DBS denies reports of Yes Bank acquisition

Singapore-based DBS Bank said on Saturday that reports claiming that it will acquire controlling stakes in Yes Bank were false. "The rumours of DBS acquiring a stake in Yes Bank are unfounded and baseless," a DBS spokesperson told IANS.

Reported by: IANS Mumbai Published on: November 02, 2019 23:40 IST
DBS denies acquisition of Yes Bank
Image Source : FILE

DBS denies acquisition of Yes Bank

Singapore-based DBS Bank said on Saturday that reports claiming that it will acquire controlling stakes in Yes Bank were false.

"The rumours of DBS acquiring a stake in Yes Bank are unfounded and baseless," a DBS spokesperson told IANS.

Meanwhile, Yes Bank also confirmed that the DBS acquisition reports were false.

Earlier, Yes bank in an exchange filing said that the bank had received strong interest from multiple foreign as well as domestic private equity and strategic investors.

The lender said that it has now received a binding offer from a global investor for an investment of $1.2 billion in the bank through fresh issuance of equity shares, subject to regulatory approvals and conditions as well as the bank's board and shareholders' approvals.

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