BNP Take Fortis Balance
Published / Last Updated on 03/10/2008
Following the intervention of Fortis Group by Belgian, Dutch and Luxembourg governments last week to take control, the remaining part has been taken over by French banking giant BNP Paribas with the Belgian government still having a 25% veto shareholding.
This move was seen as a must happen deal to prevent another dent on the Belgian markets given the fact that Belgian group Dexia was bailed out last week and is a creditor of stricken German finance group, Hypo Real Estate.
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