VOL NO REGD NO DA 1589

Monday, October 10, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

MISCELLANY

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

National Day of Australia

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

BUSINESS & FINANCE
 
European banking set for stuttering consolidation
10/10/2005
 

          PARIS, Oct 9 (AFP): Big bank takeovers that sparked talk of bidding wars in Europe will not set European banking alight with restructuring because of obstruction from national governments and reticence in corporate boardrooms, experts say.
Any further action is likely to be driven by small banks wanting to team up with rivals to ward off hostile bids by bigger predators, according to research by ratings agency Standard and Poor's.
A few huge deals in the last 12 months had led many experts to forecast that a fundamental re-organisation of European banking was about to unroll.
In the last year, Spanish bank Santander (BSCH) has swooped to buy Britain's Abbey National, Italy's UniCredit has bid for Germany's second-biggest bank, HypoVereinsbank (HVB), and Netherlands-based ABN Amro seized control of Italy's Antonveneta after a six-month takeover struggle.
Deep restructuring has been long-awaited and is much desired by the European Commission, the EU executive responsible for upholding the rules of the EU single market, which sees consolidation as a means of creating greater competitive in national marklets for financial services.

 

 
  More Headline
G20 finance, bank chiefs to tackle challenges facing global economy
US Treasury chief on reform push in Asia
Airbus, Boeing cruise towards record year
China in mad rush to build more airports as passenger numbers keep soaring
I Coast's economic barometer sees drop in trade
Japan banks to repay half of state funds by March
Adulterated poultry feeds put farm owners in dire straits
European banking set for stuttering consolidation
China retail sales up 14.2pc year on year during Golden Week
Retail sector girds for post-hurricane holiday
Indian company issues on PSM
Russian metals giant raises hopes, fears in Tajikistan
Eurozone data to confirm oil prices fuelling inflation
S African big business at forefront of AIDS battle
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com