ADVFN - Advanced Financial Network.
HOME» NYSE » I » ING Stock Price » ING Stock News

Ing Share News

 Ing Groep N.v. Stock Price
ING Stock Price
 Ing Groep N.v. Stock Chart
ING Stock Chart
 Ing Groep N.v. Stock News
ING Stock News
 Ing Groep N.v. Company Information
ING Company Information
 Ing Groep N.v. Stock Trades
ING Stock Trades

Colombia Grupo Sura Won't Bid For Spain BBVA's Latin America Assets - CFO

SANTIAGO--Due to its dominant market share in Latin America, Colombia's largest financial holding firm, Grupo de Inversiones Suramericana SA (GIVSY, GRUPOSURA.BO), can't bid for the Latin American pension-funds management operations of Spain's Banco Bilbao Vizcaya Argentaria SA's (BBVA, BBVA.MC), said Grupo Sura Chief Financing Officer Ignacio Calle. In May, BBVA, Spain's second-largest bank by market value, disclosed plans to sell its pension-fund management units in Mexico, Colombia, Chile and Peru as part of an effort to focus on its main banking businesses. In 2011, Grupo Sura purchased ING Groep NV's (ING, INGA.AE) Latin American assets, which became Sura Asset Management. After the acquisition, Sura as a whole now manages $84 billion for 17 million clients in Latin America. Grupo Sura would "face antitrust restrictions" if it were to bid for BBVA's assets in Latin America, Calle said on the sidelines of a LatinFinance forum. "We have a strong presence in Chile, Colombia, Mexico and Peru," he added, pointing out that Grupo Sura's market share is "over 50%." While buying BBVA's assets isn't an option for Grupo Sura, the financial-holding company keeps looking for acquisitions, but rather small ones, in Mexico, Peru, Colombia and Chile, said Mr. Calle. Entering Brazil will be a step that Grupo Sura will consider after consolidating its presence in Latin America's Spanish-speaking countries, Mr. Calle added. The U.S., meanwhile, is also a market the Colombian company will look at in terms of acquisitions after it strengthens its business in Latin America. "Entering the U.S. is a matter of time," Mr. Calle said. Write to Graciela Ibanez at graciela.ibanez@dowjones.com.

Stock News for Ing (ING)
DateTimeHeadline
06/13/201411:07:37Poland's May CPI Falls Unexpectedly
06/05/201415:01:13ING Moves Ahead With NN Unit IPO -- Update
06/05/201402:42:07ING Moves Ahead With NN Unit IPO
05/16/201404:20:08ING Groep Completes EUR1.125 Billion Note Issue
05/07/201417:32:03ADR Shares End Mixed; Delhaize, ING Shares Active
05/07/201409:07:17ING Hit By Restructuring Costs -- Update
05/07/201403:24:59ING Hit By Restructuring Costs
05/06/201417:18:57ING Groep 1Q Results -- Forecast
04/29/201404:03:13Dutch Central Bank Sets Out Capital Buffers
04/22/201402:58:35ING Bank Names Roel Louwhoff as Chief Operating Officer
04/02/201412:49:22European Stocks Notch Seventh Straight Day of Gains--Update
04/01/201403:41:57Singapore OCBC Makes Near US$5 Billion Offer For Wing Hang Bank...
03/31/201417:16:48ADR Shares End Higher; ING, Novartis Shares Active
03/31/201412:29:09EUROPE MARKETS: European Stocks End Mixed On Inflation Jitters
03/31/201410:29:55EUROPE MARKETS: European Stocks Push Higher After Weak Inflation
03/31/201407:13:19ING Aims to Resume Dividends Next Year -- Update
03/31/201406:22:12EUROPE MARKETS: European Stocks Pare Gains After Weak Inflation...
03/31/201404:55:55EUROPE MARKETS: European Stocks Firm Ahead Of Inflation Data
03/31/201404:40:08ING Aims to Resume Dividends Next Year
03/18/201410:55:58ING U.S. Unveils Stock Buyback

Ing and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad