ING CEO tells shareholders door open to foreign takeover: report

AMSTERDAM (Reuters) - ING Groep's chief executive Ralph Hamers told shareholders on Tuesday that the Dutch bank would consider a cross-border takeover under some circumstances, Dutch daily Financieele Dagblad reported. The comments by Hamers at its annual general meeting follow reports that ING has shown interest in acquiring Commerzbank if the German bank's ongoing merger talks with Deutsche Bank fail.

Reuters April 24, 2019 00:05:42 IST
ING CEO tells shareholders door open to foreign takeover: report

ING CEO tells shareholders door open to foreign takeover report

AMSTERDAM (Reuters) - ING Groep's chief executive Ralph Hamers told shareholders on Tuesday that the Dutch bank would consider a cross-border takeover under some circumstances, Dutch daily Financieele Dagblad reported.

The comments by Hamers at its annual general meeting follow reports that ING has shown interest in acquiring Commerzbank if the German bank's ongoing merger talks with Deutsche Bank fail.

ING, which is the third largest bank in Germany, and Commerzbank have declined comment on those reports.

Hamers also repeated ING's line that it would consider acquisitions to acquire technology or skills it does not have.

"But if it should come to a consolidation in one of the markets in which we are active, that would prompt us to a thought process," Financieele Dagblad quoted him as saying.

"We would then ask ourselves whether we can grow in that market independently."

Germany is ING's second largest market after the Netherlands.

(Reporting by Toby Sterling; editing by Alexander Smith)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

U.S. adds 11 companies to economic blacklist over China's treatment of Uighurs
Business

U.S. adds 11 companies to economic blacklist over China's treatment of Uighurs

By David Shepardson and Diane Bartz WASHINGTON (Reuters) - The U.S. Commerce Department on Monday added 11 Chinese companies implicated in what it called human rights violations in connection with China's treatment of its Uighurs in Xinjiang in western China to the U.S.

Pfizer-BioNTech potential COVID-19 vaccine shows promise in additional data
Business

Pfizer-BioNTech potential COVID-19 vaccine shows promise in additional data

By Reuters Staff REUTERS - German biotech firm BioNTech and U.S. drugmaker Pfizer on Monday reported additional data from their experimental COVID-19 vaccine that showed it was safe and induced an immune response in patients

Whole Foods punishes workers wearing Black Lives Matter face masks -lawsuit
Business

Whole Foods punishes workers wearing Black Lives Matter face masks -lawsuit

By Jonathan Stempel (Reuters) - Whole Foods Market was sued on Monday by employees who accused the upscale grocery chain of punishing workers who wear "Black Lives Matter" face masks on the job.