In Belgium, the on-line broker VMS-KEYTRADE.COM (net profits EUR 2.2 million in 2001) and the Internet bank REALBANK (net profits EUR 525,000 in 2001) plan to merge. The merger will be carried out through REALBANK's absorption by VMS-KEYTRADE.COM, according to an exchange rate of 6.55 VMS shares for one REALBANK share. The bid thus gives the Internet bank a value of around EUR 13.1 million. The entity resulting from the merger is worth EUR 47.38 million. It will have own funds of EUR 20...