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’A Landesbanken M-LEC?
Here’s a big bad round number: Germany’s four Landesbanks together have total exposure of €80bn to potentially toxic US subprime and they are now considering setting up a special purpose vehicle to hold all the infected paper.
Bundesbank head joins WestLB talks
Owners of WestLB were on Sunday night meeting over the future strategy of the German public sector bank, which has been hit by a trading scandal as well as the global credit squeeze. WestLB refused to comment on the details of the gathering,
More trouble ahead for German Landesbanken
Germany’s banks are in a mess. Two of the smaller Landesbanks, SachsenLB and IKB, were the first casualties of the credit crunch – imploding as they did way back in August.
Focus shifted when things started to go awry elsewhere in the world.
JC Flowers ‘vying’ for WestLB
US private equity group JC Flowers is keen to expand its presence in German state-backed banks by buying the 38 per cent stake in the ailing Landesbank WestLB held by the German state of North Rhine-Westphalia (NRW),
WestLB trading investigation launched
German state prosecutors on Wednesday launched a formal investigation of seven former and current executives at WestLB including Thomas Fischer, the former chief executive, for their roles in the stock trading scandal that has rocked the German public bank.
Landesbank merger shapes up
A merger between WestLB and LBBW, two public-sector German Landesbanken, moved closer on Tuesday after a second major shareholder in WestLB urged the banks to join forces. The savings banks association of Westphalia-Lippe,
UK holiday catch-up: Nasdaq, OMX, Temasek, SachsenLB
In case you missed it:
Temasek, Deutsche in LSE stake saga
Temasek, the Singapore state investment company, and Deutsche Börse, the German exchange, were linked in reports with an acquisition of Nasdaq’s 31 per cent stake in the London Stock Exchange.
WestLB to reject LBBW merger
WestLB, the publicly-owned German Landesbank, is seeking a merger with another bank, but people close to the supervisory board said it had decided against a deal with southern rival LBBW. Consolidation