Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

WestLB Split-Up Jeopardized by New Risks, Handelsblatt Reports

Don't Miss Out —
Follow us on:

June 11 (Bloomberg) -- The split-up of WestLB AG is being jeopardized after additional risks were discovered at the lender’s Verbundbank unit, Handelsblatt reported, citing unidentified people in the financial industry.

Landesbank Hessen-Thueringen, which plans to take over the unit, isn’t ready to assume liability for a 4.2 billion euros ($5.3 billion) derivatives package with a negative value of 300 million euros that was discovered in Verbundbank’s portfolio, the newspaper said.

WestLB’s owners and Helaba are scheduled to meet tomorrow to seek a solution on the issue, according to Handelsblatt.

To contact the reporter on this story: Karin Matussek in Berlin at kmatussek@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@Bloomberg.net.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.