Agricole is to buy Intesa branches for $7.52 billion

Article Abstract:

Credit Agricole S.A. of France has purchased a stake in Banca Intesa S.p.A. of Italy buying 654 bank branches valued at 6 billion Euros ($7.52 billion). The purchase comes on the heels of a planned merger between Banca Intesa S.p.A. and Sanpaolo IMI S.p.A. of Italy. Credit Agricole S.A. revenues for 2005 would be valued at 1.3 billion Euros with the new purchase.

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Shareholders of Paris retailer fear power grab

Article Abstract:

French bank Credit Mutuel's purchase of a 16% stake in department store chain Galeries Lafayette S.A., has shareholders worried that changes to the ownership of the family-controlled company may soon follow. The concern centers on the possibility that one of the store's founding families, the Moulins or the Meyers, will sell their shares to Credit Mutuel.

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Credit Agricole may bid for Alliance & Leicester

Article Abstract:

Credit Agricole S.A. of France is considering an acquisition bid for Alliance & Leicester PLC of the United Kingdom. The British banking interest has a valuation of approximately 5 billion Pounds ($9 billion). The acquisition is a good bet for increasing retail banking market share.

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