Bankinter says Credit Agricole stake buy provides 'important support' |
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Published
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Mon, 19 Nov 2007 11:09
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MADRID (Thomson Financial) - Bankinter SA said Credit Agricole's agreement to buy Ram Bhawnani's 14.99 pct stake in the bank, raising its holding to 19.53 pct, provides have ry important support' to both its current management and strategic plan.Earlier, the French bank said 'at this point there is no intention to go above' the 19.53 pct level.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.europemadrid@thomson.comjdy/salCOPYRIGHTCopyright 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 