Union Bank Dismisses Report Of Plans By Principal Owner To Sell 50% Stake as Rumours

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January 27, 2021 – Atlas Mara Limited, the sub-Saharan African financial services group and Union Bank of Nigeria, today issued the following statement in response to media reports incorrectly stating that Atlas Mara has received offers from local banks wishing to buy over Union Bank.” 

In an official statement released by Union Bank of Nigeria, signed by Somuyiwa Sonubi, Company Secretary said the unsubstantiated report was based on mere rumours and speculations.

“Our attention has been drawn to an online publication by Premium Times dated 23rd January 2021, captioned “Union Bank’s Principal Owner considering the sale of 50% stake”. Please note that the unsubstantiated report is based on mere rumours and speculations.”

“The Nigerian Stock Exchange, other regulatory agencies and members of the public are hereby advised to disregard the publication in its entirety,” the lender said.

While it is the Atlas Mara’s practice to refrain from comment on market rumours or speculation, we believe it is important to note that Atlas Mara has not received any offers from any local Nigerian bank or other bank wishing to acquire the Company’s stake in Union Bank of Nigeria (UBN).

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As previously announced to the market in 2019, the Board of the Company has been exploring a wide range of strategic options with the assistance of external advisers. That process is still underway and the Company’s strategic objectives have not changed. 

Tax Default: Kogi Govt seals off all Union Bank Branches in the state

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Union Bank Dismisses Report Of Plans By Principal Owner To Sell 50% Stake as Rumours - Brand SpurUnion Bank Dismisses Report Of Plans By Principal Owner To Sell 50% Stake as Rumours - Brand Spur

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Cloud-based Email Threats Capitalized on Chaos of COVID-19

Trend Micro intercepted a surge in malware, phishing and credential theft

 

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Read Also:  Andela, Courteville, MTN & 3 Nigerian Banks Rated Best Among 100 Companies To Work For In Nigeria 2018


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About Trend Micro

Trend Micro, a global leader in cybersecurity, helps make the world safe for exchanging digital information. Leveraging over 30 years of security expertise, global threat research, and continuous innovation, Trend Micro enables resilience for businesses, governments, and consumers with connected solutions across cloud workloads, endpoints, email, IIoT, and networks. Our XGen™ security strategy powers our solutions with a cross-generational blend of threat-defense techniques that are optimized for key environments and leverage shared threat intelligence for better, faster protection. With over 6,700 employees in 65 countries, and the world's most advanced global threat research and intelligence, Trend Micro enables organizations to secure their connected world. www.trendmicro.com.hk

Union Bank Dismisses Report Of Plans By Principal Owner To Sell 50% Stake as Rumours - Brand Spur
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