Legend Holdings, owner of Banque Internationale à Luxembourg, is aiming for a “substantial” stake in the Liechtenstein institute, according to Inside Paradeplatz.
VP Bank is reportedly attracting the interest of China’s Legend Holdings, owner of Banque Internationale à Luxembourg (BIL). According to an article published Friday by Inside Paradeplatz, Legend intends to integrate the Luxembourg establishment into VP Bank in exchange for a “substantial” stake in the Liechtenstein institute.
Asked by AWP, a spokesman for VP Bank said he could not confirm the article from the Zurich economic blog, saying that “there is no such project”. A position apparently shared by market players, most of whom consider such an operation implausible. A speaker close to VP Bank even assumes that the rumors could be the result of confusion.
Still, the information visibly agitated capital holders. At 2:30 p.m., the registered VP rose by more than 0.2% to 84.00 francs in particularly high volumes, while the market as a whole (SPI) grabbed 0.05%. More than 13,300 shares had changed hands, more than ten times the daily average. However, the title remains far from its annual high of 107 francs.