By Elena Vardon

First Abu Dhabi Bank PJSC said Thursday that it has previously considered an offer for Standard Chartered PLC but is no longer doing so, after Bloomberg reported that the United Arab Emirates bank had been exploring a bid for the London-based lender.

"First Abu Dhabi Bank confirms that it had previously been at the very early stages of evaluating a possible offer for Standard Chartered, but as of the date of this announcement, is no longer doing so." it said.

Standard Chartered shares in London at 1355 GMT were up 43 pence, or 6.5%, at 703.40 pence, having reached 797.40 pence before First Abu Dhabi's statement.

Standard Chartered told Dow Jones Newswires that the company doesn't comment on speculation.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

January 05, 2023 09:17 ET (14:17 GMT)

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