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Deutsche Bank's pounds 360m buy

FOLLOWING ITS $10bn takeover of Bankers Trust on Monday, Germany's Deutsche Bank yesterday bought Credit Lyonnais Belgium for Dm1bn (pounds 360m).

The bank is Belgium's sixth largest bank. Credit Lyonnais, which was the subject of one of the biggest government bail-outs of recent history, is being forced by the European Commission to divest its non-French activities. Deutsche already has sizeable retail operations in both Italy and Spain and is on the hunt for suitable quarry in France.