Dexia suspends trading of shares
(JB) Beleaguered bank Dexia has suspended trading of its share at the request of the FSMA until buyout negotiations are completed.
The move comes after concerns grew during the last few days over the financial institution's ability to survive a renewed credit crunch.
Today, Dexia officially confirmed that it was in talks with a buyer for Dexia Banque Internationale à Luxembourg, a move which will free up much-needed liquidity.
A meeting has been scheduled for October 8. In a bid to curb contradictory information circulating, which may have a negative effect on share values, the Dexia share is suspended until the morning of October 10.