RHB, OSK receive Central Bank's consent to negotiate

RHB Capital Bhd and OSK Holdings Bhd have secured Bank Negara Malaysia's approval to commence negotiations for a possible merger between RHB Banking Group and OSK Investment Bank Bhd.

The merger negotiation is valid for three months from Oct 13, 2011, the date of the central bank's letter to the respective parties, both RHB Capital and OSK Holdings said in separate filings to Bursa Malaysia today.

They said further details on the development will be made in due course, according to a report by Bernama News.