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Viewsroom

Viewsroom: European bank M&A, De-Dutching Shell

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 18 November 2021

⏱️ 18 minutes

🧾️ Download transcript

Summary

Big lenders in the euro zone are doing deals, but not the kind investment bankers dream about. BNP Paribas is in U.S. retreat, BBVA bulks up in Turkey and KBC goes Bulgarian. Liam Proud explains. George Hay explains why the Anglo-Dutch oil major is dropping the Dutch bit. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The views expressed on this podcast are those of the participants, not of Rojers' News.

0:08.3

Some Eurozone lenders are doing deals, but not the kind that investment bankers dream about.

0:13.3

And Royal Dutch Shell wants to ditch the Royal and the Dutch.

0:16.3

Tune in.

0:25.4

Welcome to the views from. I'm Rob Cox, the editor of Breaking Views, the financial commentary arm of Reuters News, coming to you from Zurich, Switzerland. This week saw a raft of deals

0:30.7

involving big European financial institutions, but they weren't the sort of mega merger transactions

0:36.1

that corporate financiers have been dreaming

0:38.5

about since the single currency was created. The actions happening more on the periphery.

0:43.3

For instance, BNP Paribai is thinking about selling its $14 billion US business. And BBVA,

0:48.8

which already exited America, is bulking up in Turkey. Meantime, KBC, the Belgian bank with an outsized valuation,

0:55.7

is getting it on in Bulgaria, but investors aren't so sure they love the idea, says Liam Proud

1:00.7

in London. Meanwhile, Royal Dutch Shell said it would ask shareholders to approve a change in its

1:05.6

corporate structure in order to unify its two classes of shares in London and Amsterdam.

1:10.5

The company will also shift

1:12.0

its tax residence to the United Kingdom. If shareholders approved, that means Shell will no longer

1:16.7

be royal or Dutch. George Hay tells Peter Thal Larson what it's all about. Give a listen.

1:26.2

Liam, you've written a couple of stories this week that look at European banking M&A, but it's not the kind you think about.

1:32.1

It's not Unicredit merging with Sochgen or Deutsche Bank merging with Santanderas.

1:36.6

It's a little bit more peripheral.

1:38.5

Let's walk through the stories.

1:40.2

The one that most of our readers seem to be interested in was about BNP Paribaba, which is,

1:46.2

I think now the biggest bank by market cap in Europe, looking at getting out of the United

...

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