Fortis eyes sale of RBSI but does not have “unlimited” funds
Fortis chief executive Bart De Smet admitted watching a number of insurance businesses that are or will soon be for sale but said Fortis may not have enough capital to pay the price, Dow Jones reports.
Royal Bank of Scotland being forced to sell its insurance businesses as part of it restructuring agreement reached with the European Commission, was named as a potential.
"We have discretionary capital to invest but it's not unlimited," De Smet. "The amounts that are circulating are probably of another order.”
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