York Capital has denied involvement in a bid made by Global Capital to purchase shares in Lombard Bank.

According to The Times of Malta, One of the equity fund's directors said that York Capital was interested in providing finance for certain assets, but nothing occurred by January 26, the deadline. He said York Capital has no involvement.

Global Capital had said, in an official statement, that it has made a substantial binding offer to acquire the majority 49 per cent shareholding in Lombard Bank Malta plc. "The bid by Global Capital - which holds the second largest stake in Lombard Bank - has been submitted in writing to the Special Administrator of Cyprus Popular Bank Public Co. Ltd, which owns 21 million shares in Lombard Bank." The statement had mentioned York Capital as being involved in the deal.

The Times of Malta reports that Global Capital's Executive Chairman admitted t acting prematurely, and that their discussions with York Capital were still bound by confidentiality at the time of Tuesday's statement. He said he wanted to make the intentions publicly known before the IIP fund - a major bidder for the shares - is finalised.