Talks Between BBVA and Grupo Financiero Bancomer on Possible Link-up in Mexico Mar 00
- ID: 1869900
- March 2000
- Region: Mexico
- Standard & Poors
PARIS (Standard & Poor's CreditWire) March 3, 2000--Standard & Poor's is monitoring developments following the announcement that Grupo Financiero BBV Probursa, S.A. de C.V., the 67.8%-owned Mexican subsidiary of Spain's Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), is in talks with Mexico's Grupo Financiero Bancomer, S.A. de C.V. to develop a program of alliances and capitalization between the two groups. There are no details available as yet about the scope of the cooperation. An alliance of specific businesses that would help BBVA to develop its franchise in Mexico without significant further investment would not have negative implications for the bank's ratings. The ratings on BBVA could be revised, however, if it were to acquire a controlling stake in Grupo Financiero Bancomer....
Companies mentioned in this report are:
- Banco Bilbao Vizcaya Argentaria S.A.
- BBVA Bancomer S.A.
Action: S&P Event
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