1118 GMT - Investors need to be careful not to short European banks that are already in a takeover situation or are probable targets, Keefe, Bruyette & Woods says in a research report. Deals are likely to pick up this year as more lenders trade at or above tangible book value, making shorting trickier, analysts write. More banks will see the benefits of growing earnings through acquisitions rather than a decreasing share count. Besides deals concerning Spain's Sabadell, Germany's Commerzbank and Italy's Banco BPM, analysts see Permanent TSB, Unicaja, OSB Group, Banca Popolare di Sondrio and Monte dei Paschi as potential targets. They also see scope for small bolt-on deals in Central and Eastern Europe. Likely acquirers include KBC Group and Erste Bank. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 06, 2025 06:18 ET (11:18 GMT)
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