DBS Is Said to Revise Alliance Bank Offer Proposal to 30% Stake

Singapore’s biggest bank has withdrawn an application to start talks to buy as much as 49% of Alliance Bank Malaysia Bhd., replacing it with one to acquire up to 30%...

By Elffie Chew, Manuel Baigorri · Bloomberg Markets

Singapore’s biggest bank has withdrawn an application to start talks to buy as much as 49% of Alliance Bank Malaysia Bhd., replacing it with one to acquire up to 30% instead, people with knowledge of the matter said.