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Friday, March 18, 2011

GE interested in ING's U.S. online bank -Bloomberg, (NYSE: GE), (ING)

General Electric (GE.N) has expressed an interest in buying ING Direct USA, the online banking arm of Dutch financial services company ING Groep NV (ING.AS), Bloomberg reported on Friday. Citing a person with knowledge of the matter, Bloomberg said GE had an "initial discussion" with ING about combining ING Direct with GE Capital. A GE Capital spokesman was not immediately available for comment. ING is selling the U.S. online operation as part of a restructuring agreement with the European Commission following the company's 2008 bailout. (Reporting by Ben Berkowitz; Editing by Gary Hill)

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