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Fusion Of Helaba And WestLB Burst


Helaba owners reject the merger with WestLB: The Savings Banks and Giro Association Hesse-Thuringia will be no merger discussions with the owners of WestLB in Düsseldorf schwächelnden. This is the future of the country depressed bank.


Frankfurt am Main - Nobody wants to WestLB: For months, seeks drittgrßte German Landesbank a partner. With the desire 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.




DDP
WestLB Headquarters: No viable business model

WestLB was represented by 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. Their owners are in addition to the savings banks with the states of Hessen and Thuringia ten percent with five percent. They had shown open for talks, but made clear no outstanding WestLB to take over.
Repeats was from the camp of the Sparkassen resistance to the merger plans have arisen. Majority owner of Helaba, the savings banks with 85 percent.
its 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


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