Button pays for independence
Button pays for independence
The CEO of the General Society has invested 1.5 million euros out of his own pocket in the capital increase subscribed by Dexia in particular, while BNP Paribas prepare a bid.
Daniel Bouton participated personally to the increase in the Company's share capital. According to a document of the AMF, the CEO of the bank has invested 1514 million euros of his personal funds in the operation, which can be purchased until Friday evening. This collection of 5.5 billion euros is to guarantee the independence of the bank, weakened by the loss of 4.91 billion euros after a trading fraud.
But predators remain on the lookout. BNP Paribas would seek political endorsement to launch a bid on its rival. The weekly Le Point has indeed revealed Thursday that "Michel Pébereau and Baudouin Prot, the leaders of BNP Paribas, continue to be the headquarters of the Elysée and Bercy, in the hope of a green light to their plan of recovery of the firm. Both bankers know that such an operation can only be successful if it is friendly. They also know that Daniel Bouton is hostile and that only an injunction came from above could do bend. "
BNP Paribas has denied conducting such negotiations. The bank, which had attempted to absorb the General Society in 1999, described this information from "pure market rumour." A month ago, investors had speculated on an offer of BNP Paribas on its rival for 92 euros per share. Thursday, noise referred to a supply of 1.2 action BNP Paribas, plus 18 euros for each title of the General Society. The action of the bank headed by Daniel Bouton then jumped, appearing at the top of the CAC 40 index with an increase of 2.3%, while BNP Paribas yielded 3.75%.
An analyst interviewed by lefigaro.fr believes that "BNP Paribas is the only pretending that has potential for success, and there is no hurry to carry out this operation." According to him, the agitation was observed yesterday speculative. "These rumours are intended to excite the financial community that the capital increase goes well. Banks and private equity holdings can go to the capital of the General Society, attracted by the low prices of securities and believe that the bank will return to a higher level of valuation in a few years. "
Dexia said Friday morning having subscribed to the capital increase of the Company. The participation of the Franco-Belgian group stood at 1.13%
The CEO of the General Society has invested 1.5 million euros out of his own pocket in the capital increase subscribed by Dexia in particular, while BNP Paribas prepare a bid.
Daniel Bouton participated personally to the increase in the Company's share capital. According to a document of the AMF, the CEO of the bank has invested 1514 million euros of his personal funds in the operation, which can be purchased until Friday evening. This collection of 5.5 billion euros is to guarantee the independence of the bank, weakened by the loss of 4.91 billion euros after a trading fraud.
But predators remain on the lookout. BNP Paribas would seek political endorsement to launch a bid on its rival. The weekly Le Point has indeed revealed Thursday that "Michel Pébereau and Baudouin Prot, the leaders of BNP Paribas, continue to be the headquarters of the Elysée and Bercy, in the hope of a green light to their plan of recovery of the firm. Both bankers know that such an operation can only be successful if it is friendly. They also know that Daniel Bouton is hostile and that only an injunction came from above could do bend. "
BNP Paribas has denied conducting such negotiations. The bank, which had attempted to absorb the General Society in 1999, described this information from "pure market rumour." A month ago, investors had speculated on an offer of BNP Paribas on its rival for 92 euros per share. Thursday, noise referred to a supply of 1.2 action BNP Paribas, plus 18 euros for each title of the General Society. The action of the bank headed by Daniel Bouton then jumped, appearing at the top of the CAC 40 index with an increase of 2.3%, while BNP Paribas yielded 3.75%.
An analyst interviewed by lefigaro.fr believes that "BNP Paribas is the only pretending that has potential for success, and there is no hurry to carry out this operation." According to him, the agitation was observed yesterday speculative. "These rumours are intended to excite the financial community that the capital increase goes well. Banks and private equity holdings can go to the capital of the General Society, attracted by the low prices of securities and believe that the bank will return to a higher level of valuation in a few years. "
Dexia said Friday morning having subscribed to the capital increase of the Company. The participation of the Franco-Belgian group stood at 1.13%
posted by news of france at
11:50 AM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home