The European Commission today announced its decision that it will start an in-depth investigation of the proposed merger between SEB and FöreningsSparbanken. The Commission's final decision about the merger is expected by the end of November.
The Extraordinary General Meetings in the two banks, where the proposed merger will be put forward for the shareholders to decide upon, are planned to be held during the fourth quarter 2001.
"The case is extensive and we understand that the Commission wants to perform a thorough investigation", says Nils-Fredrik Nyblæus, responsible for the integration process and CFO of FöreningsSparbanken.
"We want our shareholders to have access to information that is as complete and well founded as possible in order to decide on the proposed merger. We therefore have decided to postpone the Extraordinary General Meetings to a later date ", adds Lars Gustafsson, responsible for the integration process and CIO of SEB.