Merger Delay
■ MELBOURNE; May 9. _The and New Zealand Bank and the English. Scottish and Australian Bank are still waiting cm final Wnmi for their . merger from ihe Federal Treasurer (Mr William McMahon), the “Daily Telegraph” reported "shareholderir of the banks have not received their interim dividends, which originally were due to be paid six days ago. The delays appeared td stem from disagreement «h whether the local subsidy or the London holding company WiU hold the banking licence and be aubjeet to tfiq .Sankmanager (Mr H. McE. Scambler) bad sitld t&rt changes ire the proposals agreed between the banks could be needed to obtain Government approval. The banks write now exploring ways and means of ensuring that the new structure conformed with the Government’s requirements.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19690510.2.195.5
Bibliographic details
Press, Volume CIX, Issue 31984, 10 May 1969, Page 22
Word Count
126Merger Delay Press, Volume CIX, Issue 31984, 10 May 1969, Page 22
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.