Friday, 5 June 2009

RBS Connections !! WOW !!

Gosthy Links are when one of Barclays’ largest Middle Eastern greedy shareholders announced plans on Monday night to offload its stake in the British bank, pocketing a large profit less than seven months after making its £3.5bn investment. Khadem Al Qubaisi, managing director of IPIC, adding that the sale did not represent a lack of faith in Barclays, its management or current strategy.

And by the meantime in the Southern arab world ; Egypt's Orascom Telecom Holdings and Rojhan Capital have expressed interest in acquiring the Pakistani operations of the Royal Bank of Scotland while Obama is Singing poetry ( Moneterization ):

The State Bank of Pakistan had granted in-principle approval the companies to conduct due diligence, RBS said in a letter to the Karachi Stock Exchange.
The central bank earlier gave approval to Habib Bank Ltd and MCB Bank Ltd, Pakistan's two largest banks, and Jahangir Siddiqui and Co Ltd to conduct due diligence.
Orascom Telecom owns Pakistan's biggest mobile company, Pakistan Mobile Communications Ltd (Mobilink).
RBS is selling assets in Asia, including Pakistan, because of its capital constraints and the need for the bank to reduce the size of its balance sheet.
RBS bought into Pakistan last August through its acquisition of Dutch ABN Amro Ltd. It operates 79 branches. RBS Pakistan has a loan book of 68 billion rupees ($840 million), deposits of 79 billion rupees and assets of 108 billion rupees.
RBS Rocks !!

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