France's parliament approves mutual bank merger
PARIS, June 9 (Reuters) - France's parliament on Tuesday approved a merger between mutual banks Caisses d'Epargne and Banque Populaire to create the country's second-largest bank.
The French senate approved the merger 187 votes to 154.
Union members at France's Caisses d'Epargne had threatened last week to block the merger, saying it endangered their jobs.
Groupe Banque Populaire and Caisses d'Epargne announced plans to merge last year to help them weather the economic downturn. The merged bank would rank second in size in France to Credit Agricole (CAGR.PA: Quote, Profile, Research). (Reporting by Matthieu Protard, Writing by Sophie Taylor)
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