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