Sale rumours circulate on ING Direct and Travelex

Two foreign-owned banking businesses are rumoured to be for sale, according to the Street Talk column in the Financial Review.

One is the ING Direct business. ING's global management once mooted the sale of this business in late 2008 though the need to consider this option faded as the insurance and investment group sold other businesses, including some ING Direct franchises, in order to repay the financial assistance from the Netherlands government.

The Australian business of foreign currency specialist Travelex is the other entity subject to speculation in the AFR.