Credit Lyonnais is likely to look for a "fairly full" price for its 53 per cent stake in Woodchester Investments, if a sale of Woodchester is a condition of any EU approved rescue package for Credit Lyonnais. NCB has said, however, that Credit Lyonnais would prefer to retain its stake in Woodchester, although speculation on a sale would support the Woodchester share price.

"Any bid for Woodchester is likely to have to be pitched at a fairly full price before it is likely be considered seriously by Credit Lyonnais," said NCB.