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A&L takeover draws closer after suitor confirms interest

French bank Cr裩t Agricole has confirmed it is considering a takeover bid for Alliance & Leicester.

In a statement CA says it has not yet made a bid and its interest is only at an early stage.

A&L shares surged over the weekend over speculation CA would make a move for its UK counterpart. A&L has previously been linked with a takeover by Abbey owner Banco Santander from Spain.

The statement says: Cr裩t Agricole is assessing A&L, amongst others, but would note that its evaluation is at a preliminary stage.

Cr裩t Agricole has not made any proposal to A&L and there can be no certainty that any proposal or offer will be made.

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