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Citibank and ABN Amro may bid for control over Bank Leumi

State plans to privatize the bank by July 2001

Dutch banking concern ABN Amro and the American giant Citibank may bid for the controlling interest in Bank Leumi,



The state plans to sell its remaining holdings in the bank by July of this year,

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reported last week.

ABN Amro and Citibank both contacted the Finance Ministry to hear details about Leumi's privatization. Citibank has even begun to closely examine Leumi's activities, with the idea of reaching a final decision on whether to bid for it.

The Italian insurance group Generali is also reportedly considering buying control over Leumi, jointly with the Safra banking family.