BNP moves forward on Fortis deal

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FRANCE/BELGIUM - BNP Paribas has come a step closer to acquiring Fortis Holdings after it reached a deal with the Belgian government that would see it buy Fortis in a cash and shares deal.

Under the new deal, the Belgian State would transfer 75% of Fortis Bank to BNP Paribas in exchange for shares in BNP worth around €8.25bn (US$10.4bn) and Fortis Bank would acquire 25% of Fortis Ins...

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