Gupta-owned Oakbay Investments on Thursday slammed media reports about an approach to buy UBank as “speculation”, with “several significant untruths and misunderstandings”. Oakbay Investments CEO Nazeem Howa told Fin24 in an emailed response that the company did express an early interest in UBank a couple of years ago, but voluntarily walked away from the process at an early stage – without even going through the due diligence process.
