Insurers consider share in Credit Lyonnais

PARIS - The French Finance Ministry said yesterday it would begin the sale of state-owned bank Credit Lyonnais at the start of next year. Already two insurance companies, Axa and Allianz as well as financial services group Paribas have said they would be interested in taking limited stakes in Credit Lyonnais. Axa confirmed yesterday it was interested in buying a small share of around 8% to 10% in the bank. Allianz chief executive Dr Henning Schulte-Noelle has insisted that although the group would be ready to take a stake of no more than 10% in Credit Lyonnais, it did not plan to become an allfinanz or bancassurance group.