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Sang Froid

1 July 2014 By George Hay

Shares in the French lender have fallen more than 15 pct since it warned in February of U.S. action against sanctions abuses. Factor in market falls, and a near-$9 bln fine, and investors value the hit to BNP Paribas’ reputation and business at below $3 bln. That looks generous. 

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