Bank of Montreal in advanced talks to buy BNP Paribas’s US unit – WSJ By Reuters – Investing.com
- Date: 20-Dec-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Bank of Montreal in advanced talks to buy BNP Paribas’s US unit – WSJ By Reuters – Investing.com
(Reuters) - Canada's Bank of Montreal is in advanced talks to buy the U.S. arm of French bank BNP Paribas (OTC:) SA, the Wall Street Journal reported late on Sunday, citing people familiar with the matter.
The Canadian lender could finalize an agreement as soon as this week, assuming the talks don't fall apart, according to the report.
The deal would facilitate Bank of Montreal's expansion into the United States, where it has worked to build its presence in recent years. Combined, the banks would have some $870 billion in assets, the report added.
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