JPMorgan awaits consolidation before EU buys: report

FRANKFURT (Reuters) - European retail banks must consolidate to become attractive takeover targets, the head of JPMorgan Chase & Co. (JPM.N) was quoted as saying in an interview with Germany's Der Spiegel magazine.

International retail banking was JPMorgan's biggest strategic gap, Jamie Dimon was quoted as saying. And the bank could carry out an acquisition in this area, and possibly in Europe, the CEO said.

Timing would depend on prices and possibilities, Dimon told the magazine. "Now we are indeed strong enough, but first larger entities have to be created through the process of further consolidation," Der Spiegel quoted Dimon as saying.

"They could then become an interesting takeover target for us, but that will more likely be an issue for my successor," he added.