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Feb. 9, 2012, 8:40 AMFrance's government and state bank CDC reach a deal on the restructuring of the the French municipal lending ops of troubled Dexia (DXBGY.PK), with both to take on around 32% each. The agreement is part of an attempt to fill a potential funding gap for French towns, cities and other public entities. | Comment!
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Oct. 4, 2011, 3:49 PMThe WSJ reports flailing Dexia (DXBGY.PK) will set up a bad bank to park €180B of assets, part of a larger plan that looks to essentially dismantle the lender ($2B market cap). France and Belgium will initially back the bad bank with guarantees, looking to eventually take over its ownership. (see also) | 4 Comments
Oct. 4, 2011, 12:37 PM
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Oct. 4, 2011, 8:10 AMDexia shares continue to rally following the announcement of government support. Off as much as 38% in early trade, shares are now down just 13.5%. The news may be decent for the bank, but for France a different story - exactly where are those billions of support going to come from? CAC 40 -3.5%. | Comment!
Oct. 4, 2011, 6:24 AM
Oct. 4, 2011, 5:23 AMFrench and Belgian FMs pledge to guarantee financing raised by teetering Dexia (DXBGY.PK) and will intervene if necessary to protect account holders and creditors. Dexia needs about €5B to achieve its required 9% Tier I ratio. Shares fell as much as 32% to an all time low, and are down 59% since June. (PR) | Comment!
DXBGY vs. ETF Alternatives
Dexia is a European banking group which, in 2011, carried out its activities principally in Belgium, Luxembourg, France and Turkey in the fields of retail and commercial banking, public and wholesale banking, asset management and investor services.
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