Credit Agricole convinced Botin family has around 25 pct of Bankinter - report |
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Wed, 28 Nov 2007 09:27
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MADRID (Thomson Financial) - Credit Agricole believes the Botin family, namely Jaime Botin and his brother, Santander SA chairman Emilio Botin, hold over 25 pct of Bankinter, elConfidencial.com reported, citing unnamed sources close to the French bank.According to stock market regulator CNMV's records, Jaime Botin investment vehicle Carteval owns around 16 pct of Bankinter, although the website said Emilio also holds a significant stake.The sources cited by elConfidencial said Credit Agricole believes the Botins could hold nearly 27.5 pct of the Spanish bank.Last week, Credit Agricole announced the acquisition of Indian businessman Ram Bhavnani's 15 pct stake in Bankinter, raising its holding to 19.53 pct.It has asked the Bank of Spain for permission to raise this stake above 25 pct by March 31 2008. Its aim is to be able to acquire up to 29.99 pct, just below the 30 pct threshold that requires a bid to be launched.Credit Agricole wants two seats on Bankinter's board once the increased stake deal is formalised, elConfidencial said, but added the 'feeling' in Paris is 'not particularly good'.The Botin family is not thought to have welcomed the French bank's offensive, it noted.tfn.europemadrid@thomson.comjdy/ccs/ms1COPYRIGHTCopyright 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 