HEADLINE European Commission approves acquisition of Saxo Bank by Geely

HEADLINE

European Commission approves acquisition of Saxo Bank by Geely

Xinhua

21:40, April 25, 2018

saxo bank.jpg

The European Commission said on Wednesday it has approved the acquisition of sole control over Saxo Bank, one of Denmark's biggest banks, by Geely Financials Denmark.

The Commission concluded that the acquisition raised no competition concerns because the companies' combined market shares remain very limited on the markets concerned.

Saxo Bank is an online investment bank offering online trading and investment services worldwide and banking services in Denmark. 

Geely Financials Denmark is part of Zhejiang Geely Holding Group, a Chinese multinational company active in the automotive manufacturing industry. 

The transaction marks Zhejiang Geely's first move into international financial services.  


Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue