PARIS (Dow Jones)--French mutual bank Banque Populaire Friday said it enteredexclusive talks with U.K.-based bank HSBC Holdings PLC (HBC) to acquire seven of HSBC's French branches, in a transaction valued at EUR2.1 billion.
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In a statement, Banque Populaire said it is in talks with HSBC to buy HSBCFrance's Banque Chaix, Banque Dupuy de Parseval, Banque Marze, Banque Pelletier,Banque de Savoie, Credit Commercial du Su-Ouest and Societe Marseillaise deCredit.
The transaction is expected to be signed in the next six months, BanquePopulaire said.
Company Web site: http://www.banquepopulaire.fr
-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740; geraldine.amiel@dowjones.com
(END) Dow Jones Newswires 02-29-08 0547ET Copyright (c) 2008 Dow Jones & Company, Inc.