FRANCE - BNP Paribas has backtracked on a statement made Wednesday by Michel Anastassiades, global chief executive of subsidiary FundQuest, about the state of negotiations over the Fortis acquisition.
Anastassiades said the firms were "close to a deal" and that it was likely that the Fortis' multi-management unit would be integrated into FundQuest, BNP's multi-management subsidiary. (Global Pensions, 4 March 2009)
In a statement last night, BNP spokesman Ilias Catsaros said: "Michel Anastassiades expressed his personal understanding of the matter and is not informed of any the negotiations."
BNP has offered to pay €15bn (US$18.8bn) for Fortis in a deal that was supposed to close at the end of February. The deadline was since extended to March 6.
Catsaros added: "We would be pleased if negotiations came to a positive conclusion."
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