Posted on 08/11/08
Scotiabank drops option to buy U.S. bank assets
There's little chance Bank of Nova Scotia will take the plunge and buy a U.S. bank, its chief executive officer says. "Especially with what's developed over the last several weeks, it's very unlikely we would have any interest," CEO Richard Waugh said in an interview yesterday. When the value of U.S. financial institutions began to plummet, Scotiabank was one of the first to go shopping.
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