Four European Banks Interested in Dexia Turkish Unit, HT Says

Four European banks applied to the Ernst & Young in preparation for a possible acquisition of Denizbank AS (DENIZ), Dexia SA (DEXB)’s unit in Turkey, Haberturk newspaper said citing Ernst & Young in Turkey.

The potential buyers include Russia’s OAO Sberbank and two banks with no presence in Turkey, the Istanbul-based newspaper said. The fourth bank has 300-500 branches in Turkey and wants to increase its market share, meaning it’s either HSBC Holdings Plc (HSBA) or ING Groep NV (INGA), the newspaper said.

To contact the reporter on this story: Benjamin Harvey in Istanbul at [email protected]

To contact the editor responsible for this story: Aydan Eksin at [email protected]

via Four European Banks Interested in Dexia Turkish Unit, HT Says – Bloomberg.