Emirati bank FAB in advanced talks to buy Turkey’s Yapi Kredi

Reuters reported first Abu Dhabi Bank (FAB) is in advanced talks to acquire Turkish conglomerate Koc Group’s 61.2% stake in Istanbul-based lender Yapi Kredi for about $8 billion. Shares in Yapi Kredi soared 10% after the news emerged, while Koc Holding jumped more than 9%, both touching record highs. FAB shares slipped slightly.