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Emaar shares tumble on merger concerns
- United Arab Emirates: Monday, June 29 - 2009 at 14:21
The stock price of Emaar Properties has plunged due to concerns that a potential merger could result in asset writedowns and increased liabilities for the company. The shares lost 4.2% to Dhs2.77 at 11:50am in Dubai, bringing the slump for the month to 20%, according to Bloomberg. The shares are heading for their lowest close since May 21.
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