French bank may not buy all the Fortis insurance operation
BNP Paribas is considering not buying all of Fortis' insurance operations to appease minority shareholders of the Belgian-Dutch bank, French business daily La Tribune reported and Reuters appears to have confirmed.
BNP Paribas will a 51% stake in Fortis' insurance operations, the paper reports.
Legal hurdles surrounding the break-up and sale of Fortis could lead French bank BNP Paribas to renegotiate parts of the transaction, a source close to the deal told Reuters.
"One could envisage areas of negotiations, such as buying a smaller stake in Fortis' insurance units," said the source.
