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Danske crosses the Finnish line

9 November 2006 By Mike Verdin

The Danish bank’s purchase of its Finnish rival for $5bn will result in a new bank of roughly the same scale as Nordea. There should be synergies. And Danske has already shown with its Irish foray that it can effectively branch out of the tricky Danish market. The Danish bank’s E4bn purchase of its Finnish rival plugs the hole in its Nordic map. What s more, it will become nearly as big as Nordea. But Danske is paying a full price. It looks like Sampo has been able to use the rarity of available Finnish assets as a bargaining chip.

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