Banks

Italian bank mergers back on the agenda

17 Dec 2002

Credit Agricole bids E19bn for Credit Lyonnais

16 Dec 2002

Agricole has stretched itself to the limit in its determination to see off BNP Paribas. If it succeeds, it may do so at the expense of shareholder value.

Credit Agricole bids E19bn for Credit Lyonnais

16 Dec 2002

Germany’s economic illness is likely to spread to the rest of Europe, says Andrew Smithers.

16 Dec 2002

Credit Lyonnais tilts towards deal with Agricole

12 Dec 2002

But it is premature to say that this preference puts BNP Paribas at a major disadvantage. Lyonnais has been forced to the negotiating table, and BNP looks as if it can extract more value from a deal than its rival.

European banks turn to mandatory convertibles

12 Dec 2002

The banks issuing these securities are wounded but not basket cases. That figures. Mandatories may be less punishing than rights issues. But they are a costly way of saving face.

Credit Lyonnais tilts towards deal with Agricole

12 Dec 2002

European banks turn to mandatory convertibles

12 Dec 2002

SCH sells Mexican bank stake for $1.6bn

11 Dec 2002

Emilio Botin has lost none of his dealmaking skills. He is selling SCH s 25% stake in Serfin to Bank of America for a juicy premium. But the strategy is harder to fathom. The deal gives SCH access to the Hispanic market, yes, but lets a monster US bank in its back door.

Modern Montagues and Capulets feud at Fiat

11 Dec 2002

On one side are the Agnellis, Mediobanca and Berlusconi. On the other, the lenders, central bank and chairman. The imbroglio is not just over a new CEO, but the future of the group. What is it each side is seeking to protect and to own?

SCH sells Mexican bank stake for $1.6bn

11 Dec 2002

Modern Montagues and Capulets feud at Fiat

11 Dec 2002

Dexia catches slipstream of Credit Lyonnais bid battle

9 Dec 2002

The FrancoBelgian bank is a perennial takeover target. The hope is that one of the losers from the CL battle, perhaps SocGen, might swoop. This looks like wishful thinking. Dexia offers little growth and few synergies to any bidder.

Dexia catches slipstream of Credit Lyonnais bid battle

9 Dec 2002

Caisse des Depots’ bailout role under scrutiny

6 Dec 2002

The French quasipublic bank's role in the France Telecom bailout is just the latest example of it doing the government s dirty work. But new transparency about the balance between commercial and publicinterest activities will give its incoming boss some hard choices.

Marks and Roy quit Merrill

6 Dec 2002

The departure of the old guard from Smith New Court marks the end of an era and the stamp of Merrill's new boss. Having cut down the number of Indians, Merrill is also taking the opportunity to streamline the number of chiefs.

Credit Agricole raises stake in Credit Lyonnais

6 Dec 2002

The bellicose French bank seems determined to fight BNP Paribas for control of Lyonnais. Is this just outraged pride? It is hard to see how it can justify paying as much for the target as its rival.

Caisse des Depots’ bailout role under scrutiny

6 Dec 2002

Marks and Roy quit Merrill

6 Dec 2002

Credit Agricole raises stake in Credit Lyonnais

6 Dec 2002