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SBI denies takeover report of SA bank

Hot on the heels of a leading Chinese bank's purchase of a stake in Standard Bank, came claims of a bid by the State Bank of India (SBI) to take over South Africa's Capitec Bank. The SBI has since denied the reports.

1 Nov 2007

The Economic Times in New Delhi had earlier published a story about the proposed takeover bid, sparking strong market speculation that saw Capitec's share price rocket, but both banks have strongly denied the claims.

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