Insurance division is key to shareholder revolt over BNP sale
Concession required by French bank BNP Paribas to satisfy minority shareholders of Fortis, will focus on the insurance division according to French paper Les Echos.
Les Echos said the minority shareholders represent around 10% of the capital. They want a higher price or a review of the businesses to be sold.
Negotiations are to begin soon, the newspaper said, and BNP may acquire a smaller share of the insurance division so that Fortis Holding retains a part.
