Capital One, GE in Running for ING Direct |
| Wall Street Journal - Jun 7, 2011 |
ING Groep NV will decide shortly on a buyer for its U.S. online banking business, according to people familiar with the matter.
Capital One Financial Corp. the ninth-largest bank in the U.S. by deposits, has been interested in ING Direct USA from the start and made a cash and stock offer; General Electric Co., for which bank deposits would be an attractive form of funding commercial lending and leasing, has put in a cash bid, according to people familiar with the matter.
ING Groep, of Amsterdam, is being forced to sell the online bank as a condition of its earlier financial rescue. It has been one of the most aggressive in collecting deposits online since the Internet boom of the late 1990s got banks thinking about the Web. The sale puts up for bid one of the most successful deposit gatherers in the U.S. at a time when the secondary market for consumer loans is still stuttering.
Read Full Article from Wall Street Journal
- Posted: 2011-06-07 13:45:32
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
