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Credit Agricole seeks BoS approval to up Bankinter stake to over 25 pct UPDATE


Published : Fri, 23 Nov 2007 14:11
By : Agencies
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(Updates with further details, background)

MADRID (Thomson Financial) - Credit Agricole SA is seeking Bank of Spain approval to raise its stake in Bankinter SA to over 25 pct by March 31, 2008, from the 19.53 pct reached earlier this week, the French bank said in a statement to the BoS governor yesterday.

Credit Agricole said its intention is to be able to acquire up to 29.99 pct of Bankinter.

The French bank announced Monday the acquisition of businessman Ram Bhavnani's 14.99 pct of Bankinter for 809 mln eur, raising its stake to 19.53 pct.

tfn.europemadrid@thomson.com

jdy/tr/jdy/kf1

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