One of the first acquisition opportunities in France will be the privatization of Crédit Lyonnais, required by the EU as part of the Ffr125 billion ($22 billion) rescue package for the debt-ridden bank. A deadline for full privatization has been set for October 1999, but before this the bank must sell Ffr620 billion of assets. The sale of peripheral and foreign businesses has already begun, and most recently included Crédit Lyonnais Belgium and BfG Bank of Germany.
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