BNP to buy SocGen? Kerviel as CEO? Place your bets

Thu Jan 31, 2008 12:07pm EST
 
Email | Print | | Reprints | Single Page
[-] Text [+]

LONDON (Reuters) - BNP Paribas (BNPP.PA: Quote, Profile, Research, Stock Buzz) is the clear favorite to buy French bank Societe Generale (SOGN.PA: Quote, Profile, Research, Stock Buzz) as its rival reels from a rogue trading scandal -- at least by British and Irish bookmakers.

BNP Paribas is given odds of 5/4 to take over SocGen by Ladbrokes. Other suitors on offer at one of the two "bookies" include Credit Agricole (CAGR.PA: Quote, Profile, Research, Stock Buzz) at 9/4, Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) at 4/1 or Barclays (BARC.L: Quote, Profile, Research, Stock Buzz) and HSBC (HSBA.L: Quote, Profile, Research, Stock Buzz) each at 6/1.

Even ailing British bank Northern Rock NRK.L can be backed at odds of 1,000/1 to take over SocGen at Paddy Power.

But the longest odds are offered on who will succeed Daniel Bouton as SocGen's next chief executive.

SocGen's investment bank chief Jean-Pierre Mustier is given odds of 4/1 at taking over by Paddy Power, but Jerome Kerviel, the trader blamed for SocGen's 4.9 billion euros ($7.29 billion) of losses, can be backed at 10,000/1.

(Reporting by Steve Slater; editing by Sue Thomas)

 

Featured Broker sponsored link

Editor's Choice

  • Pictures
  • Video
  • Articles
Photo

A selection of our best photos from the past 24 hours.  View Slideshow 

Most Popular on Reuters

  • Articles
  • Video
  • Recommended
Reuters is looking for participants in a new mobile journalism project to capture the Republican and Democratic conventions from the ground up.