Den Norske Bank, Norway's largest bank, has hindered the deal by refusing to sell its almost 10 percent stake in Storebrand to Sampo. The Norwegian government was widely expected to enforce the rule, in part because it did not want the country's largest insurer to fall into foreign ownership.

Only 86.3 percent of Storebrand investors have turned over their shares to Sampo, not enough to secure a deal under the requirements. Becky Gaylord (NYT) EUROPE FINLAND: SETBACK FOR SAMPO Sampo, Finland's largest insurer, suffered a setback in its $2.3 billion bid for its Norwegian rival Storebrand, when Norwegian regulators refused to lift a rule that requires financial companies to acquire more than 90 percent of a target's outstanding stock. Lion Nathan has identified other opportunities in the wine business, Mr. After the transaction, Allied will hold 70 percent of Montana, and Lion Nathan will make 127 million New Zealand dollars ($56.2 million) on the sale of its stake. Topping Allied's bid of 4.80 New Zealand dollars a share ($2.12) would have been too expensive, Gordon Cairns, Lion Nathan's chief, said yesterday. Lion Nathan will sell its 43 percent stake in Montana to Allied Domecq of Britain, which has been competing for control of the winery. AUSTRALIA NEW ZEALAND: WINERY PURSUIT DROPPED Australia's second-largest brewer, Lion Nathan, has abandoned a yearlong struggle to buy the Montana Group, one of New Zealand's largest wine companies.

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