Baden-Wuerttemberg finance minister sees German state bank tie-ups in H2 2008 |
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Mon, 26 Nov 2007 10:13
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FRANKFURT (Thomson Financial) - The finance minister of the German state of Baden-Wuerttemberg, Gerhard Stratthaus, expects mergers between Germany's regional public-sector banks to happen in the second half of 2008, he told Financial Times Deutschland.'I continue to believe that something will happen in 2008 with regards to consolidation of the state bank sector, but rather in the second half,' Stratthaus said.The terms of a potential tie-up between the state bank WestLB and Baden-Wuerttemberg's LBBW will be affected by WestLB's recent profit warning, he added.WestLB on Nov 13 said it expects to post a full-year pretax loss in the low three-digit mln eur range, compared with a previous guidance of turning in a profit.Stratthaus also said he opposes giving the state of Rhineland-Palatinate a stake in LBBW as part of transforming the state bank of Rhineland-Palatinate from a legally independent subsidiary of LBBW into a fully integrated unit.ludwig.burger@thomson.comlb/mas/lamCOPYRIGHTCopyright 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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Baden-Wuerttemberg Oct CPI up 0.2 pct from Sept; up 2.4 pct yr-on-yr 