April 12, 2018 / 6:38 AM / 7 months ago

Denmark's FSA approves China's Geely's offer to buy shares in Saxo Bank

COPENHAGEN (Reuters) - Denmark’s Financial Services Authority has on Thursday approved Chinese carmaker Zhejiang Geely Holding Group’s [GEELY.UL] offer to buy a majority stake in the Denmark’s Saxo Bank, which develops and operates online trading platforms.

The planned deal, which highlights China’s drive to tap the expertise of European financial firms, was announced in October.

“The remaining approvals are expected within the next months,” Saxo Bank said in a statement.

Reporting by Teis Jensen; editing by Jason Neely

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