StreetAccount M&A Summary: Week of 25-May
Shawbrook Group exploring merger with Firstrand-owned Aldermore - Sky News (ZAR 92.07, 0.00)
FirstRand has decided not to legally challenge the UK Financial Conduct Authority's proposed redress scheme (ZAR 88.32, +0.32)
FirstRand downgraded to neutral from buy at Citi
FirstRand issues correction to voluntary update to shareholders on the UK motor commission matter (ZAR 87.03, 0.00)
FirstRand updates on UK motor commission matter; now expects FY normalised earnings post the motor provision to contract between (10%)-(15%) (ZAR 87.23, +0.59)
Follow-up: FirstRand is conducting analysis of potential financial implications following UK Motor Finance Commission announcement (ZAR 85.05, -1.27)
FCA confirms motor finance redress scheme
FirstRand reports H1 HEPS ZAR4.15 vs FactSet ZAR4.25 [1 est] (ZAR 92.64, 0.00)
UK's FCA has not yet been made a final decisions on motor finance compensation scheme; will likely introduce an implementation period
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