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La Poste Wants New Dexia Loans Financing Vehicle, Echos Says

Oct. 19 (Bloomberg) -- La Banque Postale, France’s postal bank, wants an alternative financing structure for the share of the loans from Dexia SA’s French municipal lending unit that it will assume, Les Echos reported, citing unnamed people at the bank.

Banque Postale is refusing to go above a 5 percent stake in the unit, Dexia Municipal Agency, until it has studied its assets in more detail, Les Echos reported. The bank wants to set up a new financing arm which it thinks will be able to raise money more cheaply, the newspaper added.

To contact the reporter on this story: Gregory Viscusi in Paris at gviscusi@bloomberg.net.

To contact the editors responsible for this story: James Hertling at jhertling@bloomberg.net.

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