Dresdner Wins Austrian Bid

However, as part of the deal it had to agree to keep 2 million shares on its books, which will be offered to Austrian retail investors over the next three years. Dresdner Kleinwort Benson, Dresdners investment banking arm, Wednesday completed the placement of 4.6 million shares. The Austrian government has been under pressure to sell its stake in Bank Austria since it sold Creditanstalt Bankverein, the countrys second biggest bank, to Bank Austria in January last year. Financial Times