BREAKING NEWS

BREAKING NEWS

BNP Paribas reaches a deal for Fortis

Now Reading:

BNP Paribas reaches a deal for Fortis

Text size Aa Aa

Marathon overnight talks between the French bank BNP Paribas and the Belgian government have reached a deal on the stricken financial group Fortis. The bank and insurance giant was carved up by the Dutch, Belgian and Luxembourg governments in October to save it from bankruptcy. Now BNP has agreed to take 75 percent of the bank operation, and a quarter of Fortis Insurance. Fortis shareholders had complained that they had not been consulted over decisions on the bank’s future.