By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian stock exchange (NSE) on Monday said it is yet to grant approval to FBN Life Limited of the acquisition of Oasis Insurance Plc.

The NSE in a notice on its official website said qualification date as well as the opening and closing dates of the tender Offer are no longer feasible as the company is yet to receive approval of the quotations committee of national council of Nigeria’s Exchange for the consummation of the transaction.

‘’Please recall that on June 4, 2014 a Market Bulletin was communicated to market operators regarding the qualification date as well as the opening and closing dates of the above Tender Offer.

Kindly be informed that these dates are no longer feasible as the company is yet to receive approval of the quotations committee of national council of The Exchange for the consummation of the transaction,’’ the NSE said.

The NSE said the new date will be communicated to the market in due course.

FBN Life is seeking to acquire I, 872,911,465 ordinary shares Of 50 kobo each in oasis Insurance.