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Credit Agricole seeks permission to hike Bankinter stake to 30 pct - report


Published : Wed, 21 Nov 2007 08:43
By : Agencies
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MADRID (Thomson Financial) - Credit Agricole SA has asked the Bank of Spain for permission to raise its Bankinter stake to 30 pct from 19.53 pct, Expansion said, citing unnamed sources close to the operation.

The French bank announced Monday that it had agreed to buy Ram Bhavnani's 15 pct in Bankinter for 809 mln eur.

Expansion said, however, that Credit Agricole directors have stressed they have no intention of launching a full takeover bid.

tfn.europemadrid@thomson.com

kd1/kd1/jdy/slj

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