SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday that it was not evaluating an offer for Britain’s Standard Chartered.
News of the potential offer first came on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing so.
StanChart’s shares rose by 11% on Thursday after Bloomberg News reported that the Abu Dhabi lender is considering reviving the bid once a lock-up period that prevents it immediately doing so expires, offering $30 billion to $35 billon.
(Reporting by Anshuman Daga; Editing by Jacqueline Wong and Muralikumar Anantharaman)