Caisse d'Epargne, Banque Populaire deny any plans for Natixis capital change |
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Published
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Tue, 23 Oct 2007 12:32
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PARIS (Thomson Financial) - French banking groups Caisse d'Epargne and Banque Populaire denied that they are considering any change in the capital structure of their jointly owned unit Natixis.The groups issued the denial following a report in La Tribune this morning that Societe Generale may take over Natixis and in return grant a combined 20 pct stake in itself to Caisse d'Epargne and Banque Populaire.The business daily also evoked two other scenarios, one being the entry of Franco-Belgian bank Dexia as a possible partner for Natixis, and the other being a merger of the central organisations of Caisse d'Epargne and Banque Populaire.The report pushed Natixis shares sharply higher in morning trading.In their statement, Caisse d'Epargne and Banque Populaire reiterated their development strategy as announced at the launch of Natixis in November 2006.tfn.paris@thomson.comgt/ra/gt/sljCOPYRIGHTCopyright 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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Caisse d'Epargne denies report wants to modify Natixis governance 