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COPYRIGHT 2006 Asia Pulse Pty Ltd
HANOI, Feb 28 Asia Pulse - The joint-stock VP Bank is working with Singapore-based Overseas Chinese Banking Corporation (OCBC) (SGX:039) on a deal to sell 10 per cent of the Vietnamese bank's shares to OCBC, according to a banking source.
Although OCBC has not yet confirmed the news, some sources believe the bank sent representatives to Vietnam recently to survey VP Bank's operations. Sources also indicated that both sides plan to finalise the deal with a memorandum of understanding (MOU) on shares drafted by the end of February.
The most important principle agreed on by both banks...
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