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Team Saxo Bank with a new bank co-sponsor?

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22 Jun 2012 14:58

Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...
User avatar JPM London
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22 Jun 2012 15:04

RedheadDane wrote:I have to say I'm a little disappointed that it's not a bank which actually has the word 'bank' in its name. That would be rather cool! Team Saxo Bank [insert here] Bank.


a) Gingers have no soul

b) Banco Santander :D The initial letters will make some nice palindromes; SBBS or BSSB.
OctaBech
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22 Jun 2012 15:10

JPM London wrote:Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...


Not likely. If it was a merger, there wouldn't be a point time where the two co-existed as, by the nature of mergers, the completion of the merger extinguishes the existence of one of the merging parties. Moreover, to the extent a merger agreement had been signed, it would have been announced by now and we wouldn't need to speculate.
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22 Jun 2012 15:12

JPM London wrote:Going to be a tight fit on those shirts considering Etixx goes on there now as well...

Anybody speculating that this new bank might actually be taking over Saxo Bank and step up the sponsorship at the same time? Thenit wouldn't be a split sponsorship between two banks, but a natural progression for a smaller bank being merged into a bigger one...


No, then the new bank wouldn't have to buy the sponsorship from Saxo.

When that is said, Saxo is indeed up for sale. The "bank's" market value was 3billion euro two years ago, but it's rapidly expanding.
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22 Jun 2012 15:27

Just saw on twitter that Riis has confirmed press conference for Monday:

@mrconde: Riis Cycling confirm press conference on Monday at 13:00 CET - "Riis has important news about the future of the cycling team". #cycling
"The truth is when I race, it's 100% me" Alberto Contador

"I have no intention of being a conformist in this race. Not in the slightest" Alberto Contador

"We should all have more cake. Who doesn’t like cake?" Oleg Tinkov
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22 Jun 2012 15:32

Publicus wrote:Just saw on twitter that Riis has confirmed press conference for Monday:


:) :) "Important news about the future of the cycling team " :)
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The great Alberto Contador :p
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22 Jun 2012 15:37

It's definately Saxo Bank and Rabobank merging into Sabobank. Or Raxobank!
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22 Jun 2012 15:41

brilleaben wrote:It's definately Saxo Bank and Rabobank merging into Sabobank. Or Raxobank!


Raxo Bank, I rather dig that name. :cool:
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22 Jun 2012 16:07

That would be a great name. Raxobank. :)
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22 Jun 2012 16:26

OctaBech wrote:b) Banco Santander :D The initial letters will make some nice palindromes; SBBS or BSSB.


As long as it doesn't turn into SSDD then I'm happy :)

Publicus wrote:Not likely. If it was a merger, there wouldn't be a point time where the two co-existed as, by the nature of mergers, the completion of the merger extinguishes the existence of one of the merging parties. Moreover, to the extent a merger agreement had been signed, it would have been announced by now and we wouldn't need to speculate.


So far all we have is rumours that there is to be a co-existance. That's my point - maybe there's NOT going to be a Team Saxo-Santander. Maybe there's just going to be a Team Santander from a point where the merger was confirmed - basically Santander taking over the sponsorship even before the merger is fully concluded.

OctaBech wrote:No, then the new bank wouldn't have to buy the sponsorship from Saxo.

When that is said, Saxo is indeed up for sale. The "bank's" market value was 3billion euro two years ago, but it's rapidly expanding.


Who's talking about "buying the sponsorhsip"? I'm talking about one bank buying another bank - and as this bank would be interested in the sponsorship it would naturally take over the responsibility
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22 Jun 2012 17:01

JPM London wrote:As long as it doesn't turn into SSDD then I'm happy :)



So far all we have is rumours that there is to be a co-existance. That's my point - maybe there's NOT going to be a Team Saxo-Santander. Maybe there's just going to be a Team Santander from a point where the merger was confirmed - basically Santander taking over the sponsorship even before the merger is fully concluded.



Who's talking about "buying the sponsorhsip"? I'm talking about one bank buying another bank - and as this bank would be interested in the sponsorship it would naturally take over the responsibility


I can almost guarantee you there is no merger. My only hesitation is that I don't work for either company, but my practice of law is mergers and acquisition and I work for a large American bank that is very active in the M&A space (domestic and international). Saxo isn't in play and the transaction doesn't make strategic sense for Santander.
"The truth is when I race, it's 100% me" Alberto Contador

"I have no intention of being a conformist in this race. Not in the slightest" Alberto Contador

"We should all have more cake. Who doesn’t like cake?" Oleg Tinkov
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22 Jun 2012 17:17

Publicus wrote:I can almost guarantee you there is no merger. My only hesitation is that I don't work for either company, but my practice of law is mergers and acquisition and I work for a large American bank that is very active in the M&A space (domestic and international). Saxo isn't in play and the transaction doesn't make strategic sense for Santander.


Thanks for the inside view :)
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22 Jun 2012 17:34

JPM London wrote:Who's talking about "buying the sponsorhsip"? I'm talking about one bank buying another bank - and as this bank would be interested in the sponsorship it would naturally take over the responsibility


The press release is talking about Saxo selling half of its name-sponsorship, which I pointed out wouldn't be necessary if there was talk about a merger. :)
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22 Jun 2012 17:42

Publicus wrote:Saxo isn't in play


As I wrote earlier they've been for sale for some time. The investment company General Atlantic and the two founders of Saxo have all made it public that they are willing to sell their shares.
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23 Jun 2012 10:30

http://www.cyclingnews.com/news/team-saxo-bank-expected-to-announce-new-name-co-sponsor?ns_campaign=news&ns_mchannel=rss&ns_source=cyclingnews&ns_linkname=0&ns_fee=0

So Saxo Bank and other big sponsor plus important lesser sponsors like Anfi and Etixx...


Bjarne must be drooling for next transfer window:p
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23 Jun 2012 10:31

OctaBech wrote:As I wrote earlier they've been for sale for some time. The investment company General Atlantic and the two founders of Saxo have all made it public that they are willing to sell their shares.


Santander is a listed bank. If they were making a takeover they would be required to disclose it to the relevant stock exchange, not release it through a cycle team bosses twitter account.

Frankly I'd think Spanish banks would have bigger things to concentrate on at this time other than cycling sponsorship.
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23 Jun 2012 11:44

OctaBech wrote:As I wrote earlier they've been for sale for some time. The investment company General Atlantic and the two founders of Saxo have all made it public that they are willing to sell their shares.


Understood your point. Was saying that they aren't actively in the process of selling the bank at this particular time.
"The truth is when I race, it's 100% me" Alberto Contador

"I have no intention of being a conformist in this race. Not in the slightest" Alberto Contador

"We should all have more cake. Who doesn’t like cake?" Oleg Tinkov
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23 Jun 2012 13:17

OctaBech wrote:As I wrote earlier they've been for sale for some time. The investment company General Atlantic and the two founders of Saxo have all made it public that they are willing to sell their shares.


I aswell don't see this happeing. Don't see why Santander have any interest in Saxo, especially not at right now when the spanish banks are struggling. IMHO a scandinavian bank will buy Saxo if any, since they can make a nice complement to the larger banks here wo aren't very big on the online trading market.

But why are we so sure it's Santander? There was a rumour about a russian sponsor, I don't know much about russian banks, does anyone know a big private bank since Katusha is in bed with the governemnt?
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23 Jun 2012 13:34

Santander is not in trouble, the Spanish banks that are in trouble are the small Cajas governed by politicians (and merged into the troubled Caja Madrid), they are suffering from the real estate bubble and the bad economy. Santander has a lot of business in South America and could expand in the crisis.
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23 Jun 2012 14:22

Publicus wrote:Understood your point. Was saying that they aren't actively in the process of selling the bank at this particular time.

Yes, sorry. :) I misinterpreted the meaning of "being in play".

PCutter wrote:Santander is a listed bank. If they were making a takeover they would be required to disclose it to the relevant stock exchange, not release it through a cycle team bosses twitter account.

Frankly I'd think Spanish banks would have bigger things to concentrate on at this time other than cycling sponsorship.


You have missed the first part of the debate. I am not arguing that Saxo is being taken over by the new sponsor, I actually argued against it in my first post. The post you commented on was just me pointing out that Saxo is indeed for sale and has been for some time.

hoerpi wrote:I aswell don't see this happeing. Don't see why Santander have any interest in Saxo, especially not at right now when the spanish banks are struggling. IMHO a scandinavian bank will buy Saxo if any, since they can make a nice complement to the larger banks here wo aren't very big on the online trading market.

But why are we so sure it's Santander? There was a rumour about a russian sponsor, I don't know much about russian banks, does anyone know a big private bank since Katusha is in bed with the governemnt?


I never said Santander has interest in Saxo, see my response above as you've gotten my post out of context. :)

I only want it to be Santander so the name can be SBS or BSSB or SBBS.
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