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Merger of Tunisian and Libyan Banks in the Offing

14 February, 2009 02:55:00 The North Africa Journal
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image Mergers

Sources in Tunis report that the governments of Libya and Tunisia are currently negotiating the terms of a merger of three banks to create a bi-national financial entity capable of financing large projects.

There is no official statement about the talks, but sources say the banks targeted for a merger are the North Africa Investment Bank, Al-Ubaf International Bank and Tunisia's BTL (Banque Tuniso-Libyenne).

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