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

Stock News for Ing (ING)
10/24/201612:00:00Ingenico Group Announces Winner of Money20/20 Hackathon
10/24/201609:00:00Ingenico Group Launches First-of-Its-Kind Enterprise-Class mPOS...
10/23/201609:00:00Ingenico Group Launches Moby/3000 Bluetooth mPOS Solution to...
10/18/201609:00:00Ingenico Group to Demonstrate Leadership in Omni-Channel Payment...
10/13/201608:00:00ING to Move Trading Jobs to London Despite Brexit
10/13/201607:50:00ING to Move Trading Jobs to London Despite Brexit
10/07/201603:10:00Delta Lloyd Rejects NN Group's Takeover Bid
10/05/201603:00:00NN Group Offers $2.7 Billion for Delta Lloyd
10/05/201602:17:00NN Group Makes $2.7 Billion Offer For Delta Lloyd
10/03/201610:58:00ING to Cut 7,000 Jobs in Cost-Savings Drive -- 3rd Update
10/03/201605:29:00ING to Cut 7,000 Jobs in Cost-Savings Drive -- 2nd Update
10/03/201604:14:00ING to Cut 7,000 Jobs in Cost-Savings Drive -- Update
10/03/201603:50:00ING to Cut 7,000 Jobs in Cost-Savings Drive
10/03/201602:37:00ING to Cut 7,000 Jobs in Cost-Savings Drive
09/29/201602:01:00ING Sells 46.7 Million Shares in India's Kotak Mahindra Bank...
08/30/201616:01:00Capital Southwest Announces Closing of $100 Million Secured Revolving...
08/24/201609:00:00Ingenico Group and Datacap Deliver Seamless and Secure Pay-at-the-Table...
08/18/201603:08:00Rabobank Reports 39% Fall in First-Half Profit on Extra Provision
08/04/201607:36:32Report of Foreign Issuer (6-k)
08/03/201607:22:00ING Profit Jumps as Lending Grows -- Update

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations