Dai-Ichi Kangyo Bank, Fuji Bank and the Industrial Bank of Japan on Thursday acknowledged they are talking about forming an alliance to create the world’s largest banking group in terms of assets.

Sources say the trio are in the final stage of negotiations on a broad investment banking alliance in which they would eventually merge into a single holding company. But the three banks separately said in statements that the talks were still incomplete and that it is too early to make an announcement on such a union at this time.

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