CSFB makes offer for Italian funds unit

Credit Suisse is looking to further expansion Keystone Archive

Credit Suisse First Boston has offered SFr1.5 billion ($840 million) for the Azimut funds unit of the Bipop-Carire bank, according to an Italian newspaper report.

This content was published on June 22, 2001 - 10:36

CSFB's offer dwarfs five other bids made for the Italian bank's mature fund-management business, which was put up for sale earlier this month. There was no comment either from CSFB or Bipop-Carire.

Analysts say Bipop's adviser, Rothschild Italia, presented the offers to the bank's board on Wednesday.

Bipop is selling Azimut at a time when the bank itself, with a market capitalisation of SFr13.5 billion, is the target of takeover speculation.

swissinfo with agencies

This article was automatically imported from our old content management system. If you see any display errors, please let us know: community-feedback@swissinfo.ch

Share this story