BNP Paribas rises as SocGen 'prepares bid'

Shares in BNP Paribas surged 2.3% in early trading today on the back of speculation that Société Générale has called in banks to advise on a potential takeover bid for its bigger French rival.

BNP Paribas shares rose from €85.86 per share to as high as €87.85 by 8.30 GMT this morning, while Société Générale shares also climbed slightly.

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