Malaysia Building Society Bhd (MBSB), DRB-Hicom Bhd and Khazanah Nasional Bhd have decided to end negotiations for the proposed merger of MBSB and Bank Muamalat Malaysia Bhd.

In a filing to Bursa Malaysia, MBSB informed that the parties have not been able to reach an agreement on the terms and conditions of the proposed merger after a series of discussions and negotiations.

“Accordingly, the parties have mutually agreed to end all discussions and not proceed with the proposed merger,” it added.

- Bernama