Fortis Belgian sale legal, says court
The sale of the Belgian activities of Fortis to the French bank BNP Paribas was legal and the only way of saving the bank, a court in Brussels ruled on Tuesday afternoon, reports the Financieele Dagblad.
The ruling came during legal proceedings against the sale of Fortis by a group of shareholders.
BNP Paribas took a 75% stake in the ailing bank, with the Belgian bank retaining 25% following nationalisation.
Trading in Fortis has been suspended on Euronext Brussels since the court began its deliberations on the sale. The share price fell sharply on the Amsterdam AEX on Tuesday, says the paper.
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