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Monday, January 28, 2008

SocGen Emulates Northern Wreck

In the fallout from last week's alleged fraud at Societe Generale, shares in the bank continued to underperform the market falling 3.7% today.

Prompting French Economy Minister, Christine Lagarde, to say that there was no need for Societe Generale to merge with another bank.

However, SocGen's problems have spurred longstanding market speculation that it could be taken over by BNP Paribas. There is also speculation that SocGen might be vulnerable to a break-up bid.

Northern Wreck, SocGen...who's next?

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