DBS Is Said to Revise Alliance Bank Offer Proposal to 30% Stake

(Bloomberg) -- Singapore’s biggest bank has withdrawn an application to start talks to buy as much as 49% of Alliance Bank Malaysia Bhd., replacing it with one to acquire up to 30% instead, people with knowledge of the matter said.DBS Group Holdings Ltd. made the decision after failing to get approval from the Malaysian central bank for its initial request, which would’ve required a waiver because generally a company can only buy as much as 30% of a financial institution in the country, the people said.The ...