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Iceland's Kvika Banki rejects bids from Arion Banki and Islandsbanki

RefinitivLess than 1 min read

Iceland's Kvika Banki KVIKA on Friday rejected merger proposals from Islandsbanki ISB and Arion Banki ARION saying they undervalue the company.

The investment bank said it is open to reevaluating its decision if the banks improve their bids, without disclosing further details.

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