A French regional bank is buying Australian bank shares. Banque Populaire appears to be resisting attempts by management of Bank of Queensland to negotiate a standstill agreement with the French regional bank in relation to the latter's continuing accumulation of shares in the former. Banque Populaire held a stake of 9.4 per cent in BOQ at the end of May, according to the last substantial shareholder notice filed by the bank. Banque Populaire also holds a small stake, of about five million shares, in Bendigo and Adelaide Bank.
