ECONOMIC INTERPENETRATION / (eu) banks

SPARKASSEN, the German building societies have made their entrance into on-line brokering with the acquisition of 90% of the capital of PULSIV, small broker based in the Ruhr. The Federation of SPARKASSEN gathers together 580 building societies and 12 Landesbanken. The value of the acquisition has not been disclosed, but is situated in the region of EUR 150 million.