Fortis reduces rights issue

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Fortis has reduced the amount it hopes to raise through a new rights issue from €15bn to €13bn, the Dutch-Belgian financial services group said on Thursday. Fortis is currently raising €24bn which it will need to pay its share in the bid for ABN Amro. Fortis is part of a consortium of three companies bidding for ABN Amro but there is also a rival bid from UK bank Barclays.

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