Fortis backs away from Ping An deal

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EUROPE - Fortis, the Dutch-Belgian bank that was partially nationalised earlier in the week, has dropped plans to form a partnership with Chinese bank and insurance company Ping An.

On Monday, the Benelux governments backed troubled bank Fortis with a joint investment of €11.2bn ($16bn) in order to provide "a sound guarantee for the protection of the interests of account holde...

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