Yes Bank says stake sale talks are still in preliminary stage

Mumbai: Yes Bank played down reports of an imminent stake sale, describing recent discussions with potential investors as preliminary and not material enough to warrant disclosure. The statement came in response to a media report that Japan's Sumitomo Mitsui Banking Corporation (SMBC) was in talks to acquire a 51% stake in the Indian lender.In a regulatory filing, the bank said it "routinely explores opportunities" to enhance shareholder value but characterised the reported negotiations as speculative. TNN