-Credit Agricole considers sale of brokerage activities.
Global Banking News-March 11, 2011--Credit Agricole considers sale of brokerage activities(C)2011 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 11 March 2011
French bank Credit Agricole SA (EPA: ACA) (CAGR.PA) is planning to sell its brokerage activities if it fails to strike a deal with Citic Securities Co (600030.SH) to set up a joint venture, Dow Jones has reported, citing a separate report by La Tribune.
Citic and Credit Agricole have said last year that they would extend the deadline for exclusive negotiations for setting up a 50/50 joint venture to June 30, 2011. 'Discussions are not making any progress,' an unnamed source reportedly said.
Credit Agricole's brokerage operations - Cheuvreux and CLSA - are worth around EUR2.5bn, the report noted.
[Editorial queries for this story should be sent to firstname.lastname@example.org]
((Distributed via M2 Communications - http://www.m2.com))
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 11, 2011|
|Previous Article:||-Kotak Mahindra Group looking to raise USD300m infrastructure funds.|
|Next Article:||-CBRC urges banks to tighten home loans.|