Fortis Turkey advances on BNP offer
Bloomberg
Fortis jumped more than 20 percent, to 76 kuruş in the morning session at the Istanbul Stock Exchange. BNP Paribas, France’s biggest bank, agreed on March 7 to buy control of the Fortis banking divisions in the two countries and 25 percent of the Belgian insurance business for 4.26 billion euros ($5.39 billion) in cash and stock, based on the Paris-based bank’s closing price on March 6.
