French regulator approves La Poste's takeover of CNP Assurances
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PARIS (Reuters) - France's market regulator has approved state-owned mail operator La Poste's takeover of CNP Assurances in a bid to create a state-controlled bank and insurer focused on the country's rural areas.The AMF watchdog said on Tuesday it authorised state-owned investment firm Caisse des Depots et Consignations, or CDC, and the French government to transfer their 42% stake in CNP Assurances to La Poste's banking arm La Banque Postale. This will allow the French post office to diversify..