Abstracts » Business, international

The lion's friendly approach

Article Abstract:

ING has acquired 19% of Credit Commercial de France (CCF), and aims to acquire the bank, but has withdrawn a bid following lack of enthusiasm from CCF. The two banks already cooperate in several areas, and CCF bosses were promised good jobs, while no layoffs were planned. CCF, however, argues that there was a lack of detail in the bid offer. There have also been concerns reportedly expressed by the governor of the central bank of France about a foreign company acquiring a French bank.

Credit Commercial de France S.A., ING Bank N.V.

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Frank exchange

Article Abstract:

Deutsche Bank has acquired Bankers Trust and the chairman of Bankers Trust, Frank Newman, has resigned. There are a number of reasons why this may have occurred, and some staff at Bankers were pleased to see him leave. The combined workforce of the banks is to be cut by 5,000, and this has meant that some valuable staff have been poached by competitors. There is also concern that there may be problems in integrating the two banks due to their having different cultures.

Deutsche Bank AG, Bankers Trust Co. (Chicago, Illinois)

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