for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Norway competition watchdog may block DNB-Sbanken tie-up

OSLO, June 24 (Reuters) - The Norwegian Competition Authority may block a bid by Norway’s largest bank DNB for domestic rival Sbanken, and will extended its review of the planned tie-up until Aug. 26, the watchdog said on Thursday.

While more than 90% of Sbanken’s shareholders have accepted DNB’s offer of 11.6 billion crowns ($1.36 billion), completion of the deal hinges on approvals by the competition regulator, the bank regulator and the finance ministry. ($1 = 8.5240 Norwegian crowns) (Reporting by Terje Solsvik and Nora Buli, editing by Gwladys Fouche)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up