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StanChart Says Focus Is on Strategy, Denting Merger Speculation

Stephen Morris
StanChart Says Focus Is on Strategy, Denting Merger Speculation

Standard Chartered Plc said it’s focused on its strategy and isn’t responding to “speculation” in a newspaper report that Barclays Plc has been exploring a potential merger with the emerging markets lender. Barclays hasn’t held discussions with Standard Chartered and the British bank isn’t actively pursuing a deal, according to a person familiar with the company’s thinking. Barclays’s directors have been considering “hypothetical combinations” with lenders including Deutsche Bank AG, Credit Suisse Group AG and DBS Group Holdings Ltd., the Financial Times reported Wednesday, citing unidentified people close to the matter.

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