• OCTOBER 7, 2008

BNP Deal Offers Model for Consolidation

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PARIS -- The weekend purchase by France's BNP Paribas SA for the Belgium and Luxembourg assets of rival financial group Fortis NV indicates a possible recipe for consolidation in Europe's financial industry: the purchase by a private bank of heavily discounted assets with the blessing of a national government.

After an intense weekend of negotiations, BNP Paribas said it had reached an agreement with the governments of Belgium and Luxembourg to acquire most of ...

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