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News Brief

December 29, 1971
See Original Daily Bulletin From This Date

Barclay’s Bank, a landmark here since Britain assumed the mandate for Palestine after World War I, will be absorbed by the Israel Discount Bank on Jan. 1. Merger negotiations have been underway for some time but were delayed pending arrangements to satisfy claims of Barclay Bank employes. A Tel Aviv court ratified the agreement this weekend which establishes Barclay’s Discount Bank Ltd. The merger does not affect the parent firm’s operations in Britain and other countries.

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