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Article: BNP Paribas targets up to [euro]10bn of European acquisitions.
- Article from:
- Financial News
- Article date:
- May 14, 2002
CopyrightCOPYRIGHT 2002 Financial News Publishing Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Guy Paisner in Paris and William Wright
BNP Paribas has set aside between [euro]7bn ($6.2bn) and [euro]10bn for potential acquisitions by 2005 and plans to boost its investment banking business with targeted European acquisitions in the next few years, according to leaked internal documents. The French financial newspaper L'Agefi cited internal documents being prepared for a presentation on May 21 at which BNP Paribas will unveil its strategic plan through to 2005. The bank's previous strategy plan, which was drawn up at the time of BNP's 1999 acquisition of Paribas, focused on cost reductions that would result from the takeover.
According to the ...