The depositary banks are still holding out for the euro DR market to take off
You know what they say: the best laid plans of mice and men and all that. Take euro depositary receipts. The inception of the European single currency had paved the way for this new breed of DR, and mice and men the world over agreed that it would alter the region's investment landscape forever and for the better.
The chief depositary banks were blatantly confident of the appeal of euro-denominated DRs. Citibank went out on a limb, coupling with the Paris Bourse to set up a euro DR (which
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