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SEB, Danske Bank in talks over tie-up-paper

imageSTOCKHOLM: Swedish bank SEB and Danske Bank, Denmark's biggest financial group, have held talks to explore the possibility of a large structural deal, a Swedish business daily reported on Thursday, citing anonymous sources.

Dagens Industri reported that Investor CEO Borje Ekholm believes SEB is too small compared with rival Nordea, the Nordic region's biggest bank.

Investor, the listed investment vehicle of Sweden's Wallenberg family, owns around one-fifth of the Swedish bank.

The paper also reported that SEB CEO Annika Falkengren could possibly take over as CEO of Investor while Danske Bank's new CEO, Thomas Borgen, could lead any new financial group. Ekholm has served as Investor CEO since 2005.

Danske Bank and SEB both said they do not comment on rumours.

Danske was hit by a burst property bubble as well as a struggling agriculture sector and a weak overall economy. Borgen took over when predecessor Eivind Kolding was ousted last month after less than two years in the job.

Copyright Reuters, 2013


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