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(From BusinessWorld (Philippines))
Byline: Ma. Elisa P. Osorio
A merger between Banco de Oro and Equitable PCI Bank is more realistic than a union of either bank with China Banking Corp., a top official of Henry Sy's major banking entity said yesterday.
"We would like to keep it separate," Banco de Oro President Nestor V. Tan said when asked if China Bank will eventually be merged with Banco de Oro.
He said a synergy between third largest lender Equitable PCI and Banco de Oro is more likely given that only a two-thirds majority is needed to combine the two.
Banco de Oro has a standing offer to buy over 36% of Equitable PCI to add …