Day of reckoning for CIMB

PETALING JAYA: Hard negotiations for the merger between CIMB Group Holdings Bhd, RHB Capital Bhd and Malaysia Building Society Bhd (MBSB) will only begin from today, when the exclusive period for the discussions between the banks end.

An official close to the deal said the banks were expected to submit a proposal to Bank Negara, but it would have several conditions precedent (CPs) to the deal being finalised.

“The submissions by the respective banks will ensure that the exclusivity for negotiations