Credit Agricole says no intention at present to raise Bankinter stake further |
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Mon, 19 Nov 2007 11:04
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PARIS (Thomson Financial) - Credit Agricole, which has agreed to buy 14.99 pct of Spanish bank Bankinter to raise its total stake to 19.53 pct, said that 'at this point there is no intention to go above that'.A spokesman said Credit Agricole has not been in contact with any Bankinter shareholders other than Ramchand Bhavnani, who controls the 14.99 pct stake that Credit Agricole will buy.Bankinter's other main shareholder is Cartival SA, which has a stake of 16.147 pct, according to Spanish market regulator CNMV.Credit Agricole's purchase of Bhavnani's stake will cost 809 mln eur, financed with internal resources. The 13.6 eur per share price values Bankinter at 5.4 bln eur.tfn.paris@thomson.commjs/ajbCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Credit Agricole buys 14.99 pct of Bankinter for 809 mln eur UPDATE 