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10/9/08

FT.com - France - Banque Populaire and Caisse d'Epargne in tie-up talks - by Scheherazade Daneshkhu

For the complete report from the FT.com click on this link

France - Banque Populaire and Caisse d'Epargne in tie-up talks - by Scheherazade Daneshkhu

Groupe Banque Populaire and Groupe Caisse d'Epargne, two of France's biggest savings banks, have entered into merger talks in an attempt to weather the financial market turmoil. If successful, the merger between the mutually owned banks would create France's second-biggest retail bank after Crédit Agricole, which took over Crédit Lyonnais in 2003. It would have a network of 8,200 branches and, according to the banks, €480bn ($656bn) of savings and deposits.

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