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QNB only likely bidder for Denizbank after HSBC pulls out.

Qatar National Bank (QNB) is reported to be the only remaining bidder for Turkey's Denizbank after HSBC pulled out of the bidding. The Qatari bank could wrap up negations for the deal within a few weeks and have the bank under its wing by the end of the month.

Troubled Belgian bank Dexia paid $2.4 billion for 75 per cent the bank in 2006, but has since had to get rid of it in a fire sale after the Belgian bank's exposure to the Greek sovereign debt blowout.

Denizbank has 565 branches, while 25 per cent of its shares are in public hands. There is no word on whether QNB will attempt to snap up the remaining outstanding shares. nBME

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Publication:Banker Middle East
Date:Jan 30, 2012
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