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FILE PHOTO: People walk past Access bank in Abuja

Diamond Bank rises as Access Bank sets completion date for merger

LAGOS (Reuters) - Shares in Diamond Bank rose 10 percent on Friday to a three week high, a day after rival Access Bank said it was aiming to complete a $235 million takeover of the mid-tier lender by April 1.

Access Bank shares rose more than 8 percent on Friday to a three-week high. The gains in the two banks helped the main index to rise 1.41 percent.

On Friday, a Nigerian court ordered a meeting of both shareholders for March 5, to approve the takeover.

(Reporting by Chijioke Ohuocha. Editing by Jane Merriman)

2019-01-25 17:49:33

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