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BREAKING NEWS

Fortis asset sell off blocked

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Fortis asset sell off blocked

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The Dutch central bank has said it is not going to let the Belgian-Dutch lender Fortis sell 709 million euros worth of assets for the moment. That follows the rescue of Fortis with an injection of capital from the governments of Belgium, the Netherlands and Luxembourg.

Fortis was planning to sell some ABN AMRO assets to Deutsche Bank in order to comply with European competition rules but now it may sell all of the part of ABN AMRO that it bought last year.