News Verification : The media had reports that IDBI Bank Limited may acquire the bank. The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company. The Federal Bank Ltd has vide its letter inter-alia stated," We would like to clarify that the report is factually incorrect. Federal Bank has not been approached in this regard by IDBI Bank nor has any due diligence been carried out by IDBI Bank."
Source: NSECourtesy moneycontrol.com
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