Ten European companies offered to buy stakes in Credit Lyonnais, according to the French government, which is selling one-third of the 2,005-branch bank as part of a rescue program.
The bidders are Credit Agricole SA, France's top bank; Banca Intesa SpA, Italy's No. 2 bank; Banco Bilbao Vizcaya SA, Spain's No. 2 bank; Commerzbank AG, Germany's No. 5; the investment bank Paribas SA; Credit Commercial de France; the insurers Allianz AG and AXA SA; and Banques Populaires SA and LVMH Moet Hennessy Louis Vuitton SA, the world's biggest luxury goods company.