Qatari bank offer too low for Denizbank
ISTANBUL - Hürriyet Daily News
A worker removes letters spelling ‘Dexia’ from the one of the company’s prime buildings in Brussels Feb 27.French-Belgian Dexia has rejected Qatar National Bank’s offer for Denizbank, saying that the price was too low. An upper-level Dexia manager told daily Sabah they were not willing to sell a healthy bank like Denizbank for next to nothing.
Expecting better offer
“Why should we sell a valuable asset of ours for such a low price?,” the unnamed official said, stressing that the offer was “substantially low.” Denizbank’s current value is $5 billion. The source says that Dexia is hoping HSBC or Sberbank, who had expressed interest in the past, might make a better offer.