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. Last Updated: 07/27/2016

French Bank Battle

PARIS -- French bank Banque Nationale Paris said Wednesday that it would await approval by authorities of a raised bid by rival Soci?t? G?n?rale before taking any action, dousing hopes of a speedy resolution to France's bank takeover battle.

Analysts said in the meantime BNP would have time to study the share prices of its double bid targets SocGen and Paribas and fretted the government might also force the three banks to talk.

A BNP spokeswoman said the bank, which held what she described as a routine board meeting Wednesday, would make no response to a raised offer by SocGen for Paribas until it had been approved by relevant authorities.