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435613422

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Posts posted by 435613422

  1. For your information Warka was approached for a take over bid from the HSBC (Hong Kong Shanghai Banking Corporation)

    The take over bid was flatly rejected & I believe another offer is on the table, until then don’t panic.

    In all honesty if HSBC do take over Warka anyone with an Account will be far better of than you may think, this is excellent news if you have stocks, accounts or any other investment in Warka

    Don’t let the Rumours get you down

    HSBC is ranked number 3 in the largest bank holdings in the world & CITIGROUP are number 10, CITIGROUP placed a bid for Warka takeover & got told to go away politely :P

    do you have a link??? (link = reference)

    Warka Bank sold 20-25 % of their stock to Citi Bank;They are now in the process of selling another 20-25 % to another foreign Bank. No foreign company can own more than 49 % of an Iraqi company. Saad Al-Bunnia will still control Warka Bank,and they are in GOOD financial shape.There was a problem awhile back when the goverment pulled a LOT of state money from Warka Bank,causing a temporary cash flow.The Bunnia family is Sunni,and as you all know,the Iraqi goverement under maliki is 100 % Shia. Politics gets down and dirty" in Iraq,too.

    War Eagle, can you provide link or reference that Citi Bank owns 20-25% of Warka?

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