/ 6 March 1998

FNB, RMB merger looms


TRADING in the shares of Rand Merchant Bank, Southern Life Association, First National Bank Holdings and Momentum Life Holdings was suspended by the Johannesburg Stock Exchange on Friday at the request of the comapnies’ boards.

The suspension came as discussions of a merger between Anglo American and RMB’s financial interests progressed.

The various boards of directors requested the Johannesburg Stock Exchange to suspend trading with effect from 2.30pm on Friday.

A cautionary was issued two weeks ago when discussions got under way, and the further step of suspension may be taken as a sign that discussions are going well. A further announcement is expected next week.