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ING sells ING Direct at £320m loss
Tuesday, October 09 07:38:32
Dutch bank and insurance group ING said today it had agreed to sell ING Direct UK to British bank Barclays, taking a 320 million euro loss on the transaction after tax.
ING is in the process of divesting its insurance operations and certain other assets as it prepares to repay Dutch state aid received in 2008, and moves to increase its capital level. ( C) Reuters
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