France's La Poste mail deliverer and bank services provider has agreed to the idea of subscribing to fund-raising issues by Franco-Belgian bank Dexia (DEXI.BR), according to the daily Le Figaro, citing unnamed sources. In its Thursday edition, extracts of which were emailed to Reuters in advance of publication, The French newspaper said the two groups had quietly agreed in December to drop the idea of a possible joint venture. But La Poste agreed to the funding idea, and is expected to subscribe this year to some 3 billion euros worth of so-called covered bonds issued by Dexia, the newspaper said. Details had yet to be sorted out, it added. (Editing by Carol Bishopric)
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