was announced earlier in the day.
The bid was the second in a decade where a merger plan between the two banks failed to materialise. A bank statement said Alpha Bank’s board “unanimously, and after examining the terms of the proposed merger, rejects the plan, taking in view the uncertainty created by the current economic situation and the context of the plan, whose terms are considered not to be to the benefit of Alpha Bank’s shareholders”.
source: ANA-MPA
