Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd have ceased their separate negotiations with RHB Capital Bhd on a possible merger.
Analysts said the asking price could have been too high which could have led the country's top two banks to pull out of the race together.
Maybank, in a filing to Bursa Malaysia, said the decision was taken in the light of recent developments and following further deliberations.
CIMB Group Chief Executive Datuk Seri Nazir Razak, in a separate statement, said the bank believed that it would not be able arrive at a value creating merger based on its various discussions and assessment of the present expectations of key stakeholders.
Analysts said the asking price could have been too high which could have led the country's top two banks to pull out of the race together.
Maybank, in a filing to Bursa Malaysia, said the decision was taken in the light of recent developments and following further deliberations.
CIMB Group Chief Executive Datuk Seri Nazir Razak, in a separate statement, said the bank believed that it would not be able arrive at a value creating merger based on its various discussions and assessment of the present expectations of key stakeholders.
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