BNP willing to negotiate on Fortis acquisition

by David Masters

Story link: BNP willing to negotiate on Fortis acquisition

France-based BNP Paribas said this week it remains determined to acquire some assets of struggling Belgian-Dutch bank Fortis, despite attempts by Fortis shareholders to put a legal block on the transaction.

The acquisition was halted in December when a court of appeal in Brussels ruled a 65-day suspension on the sale of Fortis assets to BNP Paribas.

Shareholders who oppose the deal with be given the opportunity to voice their opinions at shareholder meetings on 11th and 13th February.

BNP Paribas said it is willing to consider negotiations, including buying a smaller stake in Fortis’s insurance units.