OVAG to Merge With Another Bank?

Published: September 9, 2014; 16:30 · (Vindobona)

A merger or collaboration of some sort with another bank may be in sight for Austrian bank group Osterreichische Volksbank AG (ÖVAG), Standard daily reports in its Tuesday issue. US investment bank Lazard is on lookout for offers.

OVAG to Merge With Another Bank? / Picture: © Flickr

The news rehashed speculations according to which ÖVAG could be taken over by other banks.

Right now ÖVAG is said to feverishly search for new structures ahead of the bank stress test which it may likely fail.

The bank did not issue any official comments to counter the reports.

This article includes a total of 55 words.

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