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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (72829)	7/5/2001 12:35:19 AM
From: marek_wojna	Read Replies (1) \| Respond to of 116790

Good timing miners chose. If they last long enough and gold pop up we might see Anglo and Harmony stretching theirs banks books to the break point. Wouldn't be a dream for gold bugs to see them going belly up with no one to rescue. Not worry about miners as there would be twice as many jobs, later on.

To: lorne who wrote (72829)	7/5/2001 7:28:47 AM
From: long-gone	Respond to of 116790

Could there be a stash of gold involved? Updated 03:08 PM EST, Jul-3-2001 Citigroup, Banco Mercantil confirm talks by Ivan Castaño Posted 01:22 PM EST, Jul-3-2001 U.S. financial services colossus Citigroup Inc. is on the brink of acquiring ailing Brazilian bank Banco Mercantil de Sao Paulo SA, for between $320 to $420 million, analysts said Tuesday. "Newspapers in Sao Paulo have said the deal is almost closed and that it could amount to as much as $320 million and that Citi could acquire full control of the bank," said a Sao Paulo bank analyst on the condition of anonymity. "I think it’s going to close, but it’s difficult to say when." Citigroup did not return phone calls seeking comment. Mercantil couldn’t immediately be reached for comment. On July 2, Mercantil, which operates mostly in Sao Paulo, filed a statement with the local stock exchange commission confirming the talks. It did so after newspaper Estado De Sao Paulo reported that a deal between the two banks was imminent. In the statement, Mercantil said it continued to negotiate with Citigroup, but that no decision had yet been reached. Antonio Klapka, a banking analyst with ABN Amro in Sao Paulo, recently told The Deal that either Citigroup or Spain’s Banco Bilbao Vizcaya Argentaria could launch bids for Mercantil. A deal "is likely as the bank needs scale and cannot compete with local players," he said, adding that Mercantil could sell for as much as $420 million. In the wake of its announcement May 17 that it would buy Mexico’s second-largest bank, Grupo Financiero Banamex Accival SA, or Banacci, for $12.5 billion, Citigroup said it would continue its near-term expansion in Latin America, notably in Brazil. thedeal.com