Unicredito interested in Societe Generale, Capitalia - report UPDATE |
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Published
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Tue, 17 Apr 2007 09:27
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(adds comment from Societe Generale)MILAN (Thomson Financial) - Unicredito Italiano SpA is interested in buying the French bank Societe Generale and its Italian peer Capitalia SpA, the daily Finanza & Mercati said without giving a source.However, the daily said that Unicredito may wait to see the outcome of the takeover battle for ABN Amro Holding NV to decide whether to move on Capitalia.ABN is the Italian bank's main shareholder with a nearly 9 pct stake.There is speculation that ABN could be broken up if taken over by Barclays PLC or a consortium formed by Royal Bank of Scotland, Spain's Banco Santander Central Hispano and Belgo-Dutch bancassurance group Fortis.If Unicredito decided to only buy ABN's stake in Capitalia, it could have sufficient resources to take over Societe Generale, Finanza & Mercati added.A spokesman for Societe Generale told Thomson Financial the group had no comment to make on the claims, adding that 'this is not the first time the rumour has surfaced.'The spokesman also pointed out that Societe Generale bought Unicredito's securities services business in January last year, for a total of 548 mln eur, making it the third largest global custodian in Europe.philip.webster@thomson.compw/amb/vb/ambCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Unicredito interested in Societe Generale, Capitalia - report 