GFH Financial Group denies plans to merge with Dubai's Shuaa Capital
Dubai-listed GFH Financial Group, an investment firm headquartered in Bahrain, has dismissed speculation that it is planning to merge with Shuaa Capital.
The company clarified on Wednesday that recent social media rumours concerning a potential merger with the Dubai-based financial services firm is 'incorrect'.
It said that there are 'no discussions or agreements in place regarding' the supposed merger. It further stated that it has not initiated any talks or arrangements on the matter either.
'It has not entered into any negotiations or arrangements with Shuaa Capital in this regard,' the company told the Dubai Financial Market (DFM).
The company, which has investments across various sectors including infrastructure, real estate and financial services, issued the clarification amid speculation circulating on various social media platforms that the two financial firms are likely to consolidate their business.
(Writing by Cleofe Maceda; editing by Seban Scaria)
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