BNP Paribas’s Chairman Michel Pebereau and CEO Baudoin Prot continue to lobby French authorities to give them a green light for their plan to take over rival bank Societe Generale, Le Point reports.
BNP Paribas executives believe that Societe Generale chairman Daniel Bouton’s opposition to a deal can only be overcome with assistance from the French authorities, so are continuing to pressure officials of the French president’s office and the finance ministry.
BNP Paribas said last month that it was considering a possible takeover offer for Societe Generale after the bank reported a 4.9 billion loss due to unauthorised activity by one of its traders, Jerome Kerviel.