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CMA yet to receive KCB majority bid for NBK

NBK shares have risen by 48 percent from December 2016/FILE

NAIROBI, Kenya, June 20 – The Capital Markets Authority has come out to clarify that it is not aware of KCB Group’s majority share acquisition in National Bank of Kenya.

In a statement, CMA Chief Executive Paul Muthaura says KCB Group has not filed regulatory filings in regards to the acquisition.

“An appropriate announcement shall be made in the event that details of such a transaction (if any) are filed with the Authority as required by the applicable regulations,” Muthaura says.

The regulator is urging caution when dealing with shares of both KCB Group and National Bank.

KCB shares have been on a slower growth gaining 25.2 percent since December 2016 compared to National Banks’ 48 percent, with much of the gain coming after the proposed acquisition was reported.

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