The French government has approached the country's banks and insurers about forming a consortium to purchase at least 34 percent of the Euronext stock exchange, due to be spun off in a public offering, sources close to the matter said on Friday.But banks, whose latitude for making such investments has been reduced by looming capital rules, are resisting the government's entreaties, the sources said."On top of these objective considerations, it is also true that no financial institution is eager to please the government after the tax burden they imposed," a senior financial institutions banker said.French lenders and the Socialist government of President Francois Hollande have been at odds over several issues, including taxation and regulation, although the banks succeeded in softening a threatened crackdown.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI fell by 1.06% or $-0.21/share to $19.56. In the past year, the shares have traded as low as $15.51 and as high as $20.83. On average, 17259 shares of FISI exchange hands on a given day and today's volume is recorded at 7788.
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