BNP Paribas cancels Fortis purchase

Thursday 18 December 2008

French bank BNP Paribas has cancelled its purchase of the Belgian arm of Dutch Belgian financial services group Fortis.

The decision comes less than a week after a Brussels court ruled shareholders must be consulted on the sale.

‘The acquisition of a stake by BNP Paribas in Fortis Banque cannot proceed as initially planned. As a result, the shareholders' meeting convened on December 19th 2008 will no longer take place,’ the French bank said in a statement.

For the full statement, click here

© DutchNews.nl

Comments have been closed for this article.