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-Credit Agricole considers sale of brokerage activities.

Global Banking News-March 11, 2011--Credit Agricole considers sale of brokerage activities(C)2011 ENPublishing -

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.

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Date:Mar 11, 2011
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