French bank BNP Paribas interested in acquiring ABN Amro: report

BNP Paribas, France’s biggest bank, is interested in acquiring State-owned ABN Amro, sources told Bloomberg News. BNP reached out to the Dutch government to discuss its interest in an acquisition, the sources said.

The French bank is interested in ABN Amro’s retail and corporate franchise, according to the news agency’s sources. BNP would also like to expand into northern Europe.

ABN Amro has been state-owned since the financial crisis. According to Bloomberg, the Dutch government isn’t seriously considering a sale at this point. The government may opt for rather selling more shares sometime in the future, so it can raise money and retain control at the bank, the sources said.

BPN’s contact with the Dutch government also hasn’t progressed much further than showing interest, according to the sources. There have been no detailed negotiations. 

Minutes after the report was published, shares of ABN Amro jumped from 10.39 euros to 12.01 euros on the Amsterdam stock exchange, nearly a 16 percent increase.

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