The European Union's anti-trust committee approved Bank Austria's bid for Creditanstalt Bankverein last week, confirms an official in Vienna. In January, Bank Austria successfully bid $1.55 billion for a 70 per cent stake in Creditanstalt, but the EU was brought in to investigate anti-trust complaints (FXW, January 20). Bank Austria has agreed to reduce certain other holdings to appease anti-competitive concerns. The merger is expected to take place in January 1998.

At a seminar last week o

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