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Merrill CEO: Liquidity Fears Ease, Merger on Track - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – The chief executive of Merrill Lynch said on Monday that emergency measures by U.S. authorities had solved concerns about liquidity problems and that his bank’s merger with Bank of America Corp. was on track.

“I do believe that the actions of the Fed, the Treasury and the FDIC have solved the concerns about the U.S. financial system. I believe that those actions … will all start to unblock and unfreeze the credit markets,” John Thain said at a roundtable discussion in Dubai.

“The transaction is on track. We expect to conclude the transaction by the end of the year,” he said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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