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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan's Shinsei, Aozora banks halt merger: reports AFP - Saturday, February 13 Send IM Story Print Japan's Shinsei, Aozora banks halt merger: reports Slideshow: Full Photo Coverage: Business & Economy TOKYO (AFP) - – Mid-sized Japanese lenders Shinsei Bank and Aozora Bank are likely to scrap plans to merge by October because of differences over business strategy, news reports said Saturday. Shinsei and Aozora, which have been hit hard by the global financial crisis, announced in July a planned merger of equals that would create the nation's sixth-biggest commercial bank. But the negotiations eventually ground to a halt, with Shinsei seeking to expand its retail operations while Aozora is more keen on working with regional banks, the Nikkei economic daily said without naming its sources. The two sides were unable to agree on even such fundamental matters as integrating their systems or naming the new bank, it said. The private Asahi network also reported the two lenders remained at odds over a business strategy for the merged bank and system integration. Shinsei Bank said in a statement on Saturday that it had no comments on the reports. Aozora Bank could not be immediately reached for comment. Both organisations were formerly long-term credit banks, which were bailed out with public money during Japan's banking crisis of the 1990s and later sold to private investors. Both remain part-owned by the Japanese government. Recommend Send IM Story Print Related Articles Singapore rolls the dice on first casino AFP - 1 hour 35 minutes ago Toyota finds no problem with electronics: reports AFP - 1 hour 58 minutes ago Zain confirms offer for African assets-bourse Reuters - 1 hour 58 minutes ago Kuwait's KIA to decide on Bharti's offer to Zain-paper Reuters - 2 hours 1 minute ago Dubai's Drake makes 74 mln-dirham profit in Q4 Reuters - 2 hours 5 minutes ago News Search Top Stories Troubled Winter Olympics gets into medal mode Dutch tourist shot in Carnival mugging in Rio: police US approves American Airlines, 'oneworld' alliance expansion Greek crisis could force change in EU economy pact Campaigning kicks off in Sudan presidential poll More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Spain fails to shake off recession Mountain lynx makes another appearance Toyota faces new woes with Tacoma truck recall British fashion designer Alexander McQueen found dead Penguin future looks perkier with marine zone: study More Most Viewed » Pitt, Jolie sue British paper over split claims Fury heats up after new AIG bonuses Sugary soft drinks linked to pancreatic cancer: study More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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