Fully Deluded: Wall Street Rag

France To Invade Belgum, Netherlands

Posted from Dealbreaker 56 days ago
Fully Deluded : Hedgie

What a dilemma. Root for the French, or root for European bank meltdowns. Decisions, decisions. BNP Paribas SA, France's biggest bank, will take control of Fortis's units in Belgium after a government rescue of the Brussels and Amsterdam-based company failed. BNP Paribas will buy 75 percent of Fortis Bank Belgium from the government for 8.25 billion euros ($11.3 billion) in stock, and purchase the company's Belgian insurance operations, Prime Minister Yves Leterme said to reporters today. BNP Paribas to Take Control of Fortis Units in Belgium [Bloomberg] (original story)