Troubled Dutch-Belgian finance services group Fortis is planning to make an announcement on Sunday before markets in Australia and the Far East open, according to a report on the website of the Belgian newspaper De Tijd on Sunday.

According to Saturday’s Financieele Dagblad the company may even be considering the sale of ABN Amro Nederland.
‘All scenarios are possible. That also means the sale of Fortis as a whole,’ one unnamed source close to the company is quoted as saying by the paper. Fortis was one of a consortium of three banks which bought ABN Amro last year.
French bank BNP Paribas is seen as a potential buyer of the Dutch ABN Amro banking activities, say various media reports and, according to the Financieele Dagblad, could be interested in a full takeover of Fortis.
The Dutch banks ING and Rabobank are believed to be interested in ABN Amro’s private clients division, the paper adds.
Fortis saw a nose-dive in confidence in the company and dramatically falling share prices last week. On Friday Fortis shares fell another 21%. According to AFP news agency Fortis shares are down 71% since the beginning of the year.
As markets closed on Friday, Fortis’s market value stood at €13bn, one third of what it was at the end of 2007, said AFP. Despite assurances, some banking analysts said the group was looking increasingly vulnerable to a takeover.
Dutch and Belgian finance ministers and central bank executives were reported to have remained in close touch over the weekend in the fight to maintain confidence in Fortis.