La Banque Postale said it will enter exclusive talks with SocGen in the aim of signing an agreement before the end of the year. It specified that it will hold a majority stake in the joint venture and that its partner's capital investment will be limited to the venture.
The report confirmed a report in Les Echos on Tuesday saying that SocGen had been chosen by La Banque Postale following a bidding process.
tfn.paris@thomsonreuters.com gt/ak/gt/sal
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