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Tanzanian lender plans majority stake buyout in Kenya’s Oriental Bank
Bank M Tanzania plc founder and chief executive officer Sanjeev Kumar (left) speaks as Coulson Harney Advocate partner Alex Mathini looks on during the unveiling of the M Oriental Bank limited at the Serena Hotel in Nairobi on June 22, 2016. PHOTO | SALATON NJAU
A Tanzanian lender is gunning to acquire additional shares in Kenya’s Oriental Bank in a deal that will see it take control of the small bank.
The Dar es Salaam-based Bank M is currently wooing shareholders of Oriental Bank to sell to it another 21.25 million shares to raise its stake to 51 per cent.
