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Deadline for ZB Financial's separation from Intermarket Holdings set

Zimbabwe's central bank gave the separation of ZB Financial Holdings Ltd. from Intermarket Holdings Ltd. until Dec. 31 to complete, according to The Herald.

"Shareholders and members of the public are advised that ZB Financial Holdings is engaged in negotiations concerning a material transaction which, if concluded, may have an effect on the price of the company's shares," the Reserve Bank of Zimbabwe reportedly said.

The deadline comes as the government is worried about further delays in the undertaking, which was approved by the Cabinet in February 2015, The Herald noted in its Dec. 11 report.