Other Links
Credit Cards
Business Credit Cards
Debit Cards
Gas Cards
Popular Credit Cards
Prepaid Cards
Reward Cards
Secure Credit Cards
Student Credit Cards
Subprime Credit Cards
Advanta
American Express
Buy Right
Chase
Discover
Eufora
Household
New Millenium
Orchard Bank
Vue

Fusion Of Helaba And WestLB Burst


Helaba owners reject merger with WestLB: The Savings Banks and Giro Association Hesse-Thuringia will be no discussions with the owners of Duesseldorf schwächelnden Bank. Finance Minister Steinbrück called on the country's banks is moving to consolidate.


Frankfurt am Main - WestLB is in the impasse: The merger with Helaba has failed, the future of dealing with bank Dusseldorf uncertain. The reorganization of the German state banks will not quite succeed, but Finance Minister Peer Steinbrück (SPD) urges. The consolidation of state banks is already at an earlier time have been necessary. "Now it is overdue."




DDP
WestLB Headquarters: No viable business model

For months, seeks drittgrßte German Landesbank a partner. With their desire to partner, the Savings Bank and Giro Association Hesse-Thuringia, they had several rounds of negotiations completed. But today wischten the Umworbenen all merger considerations between the Landesbank Hessen-Thüringen (Helaba) and WestLB from the table. Apparently, they move into the broken institution delicate.
The opposition criticised the Düsseldorf state in response to the failed merger price of Prime Minister Jürgen Rüttgers (CDU). "Rarely is a
Dutch Prime Minister with his plans so frontally and for all
open visibly failed, "said the parliamentary
Managing Director of the Open, John Remmel. He called on the
Head of government to start negotiations on a merger with WestLB
Landesbank Baden-Wuerttemberg and also to the
A nationwide initiative to Landesbanken summit to take.

"The state government is increasingly at WestLB as
act, "said the vice chairman of the SPD
Country Parliamentary Group, Gisela Walsken. Now räche sure that
Rüttgers unilaterally only in talks with Helaba
set. He had the WestLB in an impasse.
The bank was represented by Duesseldorf Fehlspekulationen and the consequences of the international financial market crisis deep into the red numbers slipped. Mid-December 2007 were therefore the owners of WestLB to Helaba up. With their final rejection is the future of dealing with WestLB reopens. The Bank is the state of North Rhine-Westphalia directly and indirectly with about 38 percent stake, the savings banks associations of Rhineland Westphalia and with just over 50 percent. The rest of WestLB's shares hold municipal landscape associations.
Because of the credit crisis had the country and the NRW savings banks, WestLB already with several billion euros. In addition, the bank lacks a viable business model.
Inevitably, the bank remains open to mergers in the country's banking sector. "The consolidation of the state banks remains an important issue for WestLB, the bank announced. Owners and board had agreed that a consolidation in the country's banking sector was necessary. "That we are now preparing the bank with high-pressure, by providing them and restructure the business model evolve."

sil / AP / dpa / ddp


More News