Monday, September 29, 2008

news

The move comes after talks between the European Central Bank and the Netherlands, Belgium and Luxembourg.

Ministers from the three countries agreed to pour almost £9bn into the bank to save it from possible collapse.

Belgian Prime Minister Yves Leterme said the bail-out showed Fortis would not be allowed to fail, after its share price plunged in recent days.

Under the deal, Fortis will have to sell its stake in Dutch bank ABN Amro which it partially took over last year. The Dutch government has not named any potential buyers.

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