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ING to reopen bailout talks
DUTCH financial services group ING is set to renegotiate a restructuring agreed with the European Commission in return for a €10bn (£8bn) bailout, potentially resulting in fewer sales of smaller assets.
ING said it has begun discussions with the Dutch government and it will soon start talks with the European Commission. The firm’s first-quarter net profit was lower than expected at €680m, compared with analysts’ average estimate of €1.2bn – but underlying earnings beat forecasts.