Posted AT 9:06 AM EST on 25/08/08
Denmark buys out ailing Roskilde Bank
COPENHAGEN — Denmark's central bank unveiled a 4.5-billion-crown ($896.8-million U.S.) bailout of Roskilde Bank acting to confine the negative effect of the struggling bank on the Danish financial system.
The central bank stepped in after Roskilde, Denmark's eighth-largest retail bank by market share, failed to receive any offers after putting itself up for sale in the face of bigger than expected writedowns on real estate loans.
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