BMO - BNP Paribas expresses interest in acquiring ABN Amro Bank

BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY) has shown interest in a potential acquisition of ABN Amro Bank NV (OTCPK:AAVMY), the Netherlands-based consumer lender that's been owned by the government since the 2008 financial crisis, Bloomberg reported Friday, citing people familiar with the matter. ABN Amro Bank (OTCPK:AAVMY) shares are rising 1.5% in London trading Friday afternoon. Acquiring the bank, would expand BNP's (OTCQX:BNPQF) retail and corporate franchises in northern Europe, they said. BNP Paribas (OTCQX:BNPQF), France's largest bank, recently sought a meeting with the Dutch government and discussed its interest in a transaction, the people said. The Dutch government, though, isn't seriously considering a sale and the preliminary contact hasn't advanced to any detailed negotiations, Bloomberg said. It may prefer to offer more ABN Amro (OTCPK:AAVMY) shares on the market, which would allow it to raise some capital while maintaining some control, the sources said. BNP Paribas (OTCQX:BNPQF) agreed late last year to sell

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BNP Paribas expresses interest in acquiring ABN Amro Bank