Far East Bank and Trust Company
PSE Circular for Brokers No. 1998-99 • Philippine Stock Exchange • Circulars for Brokers • Aug 11, 1999
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August 11, 1999 PSE CIRCULAR FOR BROKERS NO. 1998-99 SUBJECT : Far East Bank and Trust Company Far East Bank and Trust Company ("FEB") clarified to the Exchange a news article entitled "FEBTC moves to acquire Unionbank, Chinabank" published in the August 10, 1999 issue of the Philippine Daily Inquirer which reported that the FEB's Board has given the bank's management the go-ahead to issue feelers or conduct preliminary discussions for the acquisition of Union Bank of the Phils. and China Banking Corporation. FEB, in a letter to the Exchange, stated that: LLjur " . . . in keeping with the consolidation developments in the banking industry, the Bank is indeed studying the possibility of merger and acquisition and is looking at various options. However, many diverse factors are still under consideration and the Bank's Board of Directors and stockholders have not come up with any firm decision or specific option. Accordingly, there are no official merger talks with Union Bank and China Bank or other banks.. . . ." For your information. (SGD.) JOSE LUIS U. YULO, JR. President and CEO
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