ING opened for cross-border acquisition

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OPEN FOR CROSS-BORDER ACQUISITION

AMSTERDAM (Reuters) – ING's CEO, Ralph Hamers, told Dutch bank shareholders on Tuesday that it is ready to consider a cross-border acquisition if certain conditions are met, reports the newspaper Het Financieele Dagblad.

The comments come a week after the German magazine Manager Magazin wrote that ING had expressed interest in Commerzbank if the merger talks between the second German bank and Deutsche Bank, the first, failed.

ING, the number three of the bank in Germany, and Commerzbank declined to comment on this information.

According to Het Financieele Dagblad, Ralph Hamers reiterated ING's external growth policy: it aims to obtain technologies or skills that the bank does not have.

Germany is the second market of ING after the Netherlands.

Sources said that during the day Deutsche Bank should make a point at the latest about discussions on mergers with Commerzbank.

NOTE: The information of the press organizations mentioned have not been verified by Reuters, which does not guarantee their accuracy.

(Toby Sterling, Benoit Van Overstraeten for the French service)

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