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BIDV, Incombank name consultants (09-07-2007) HA NOI — Foreign consultants have been named to advise in the equitisations of the Bank for Investment and Development of Viet Nam (BIDV) and Incombank. Morgan Stanley Dean Witter Asia (Singapore) Pte will act as consultant for BIDV's equitisation this year, while JP Morgan Securities Asia Pacific Ltd will hold Incombank's hand during the process. Morgan Stanley lowballed other bidders, coming in with an offer of US$1.8 million for the contract, compared to as much as $7 million bid by UBS. Morgan Stanley also had the second-highest technical score of the leading bidders, at 76.5, coming in only behind Merrill Lynch, at 87.2. JP Morgan topped the technical score table in the Incombank bidding process, followed by Merrill Lynch and Lehman Brothers. Incombank chose not to disclose the amount of JP Morgan's winning bid. The two State-owned banks planned to sign contracts with their newly selected consultants later this week. The foreign … [Read more...] about BIDV, Incombank name consultants