MUFG is the leading contender to acquire 51% stake in Yes Bank, India's 6th-largest private lender.

Mitsubishi UFJ Financial Group (MUFG) is the leading contender to acquire a majority stake in Yes Bank, India's sixth-largest private lender. Unlike other bidders, MUFG accepts the regulatory voting rights cap of 26%. The move follows a rejected $2 billion bid for HDB Financial. MUFG aims for a 51% stake, which would mark a significant banking merger in India. Current negotiations involve State Bank of India, Yes Bank's largest shareholder.

October 04, 2024
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