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Belgium to sell part of BNP Paribas stake - finance ministry
May 3, 2017 / 5:10 PM / 5 months ago

Belgium to sell part of BNP Paribas stake - finance ministry

BRUSSELS, May 3 (Reuters) - Belgium plans to sell a quarter of the stake it holds in French financial group BNP Paribas , the Belgium finance ministry said on Wednesday.

The country, which acquired the stake in 2008 as a result of a bailout of Belgian group Fortis, said it would bring back its stake in BNP Paribas to 7.8 percent from 10.3 percent previously.

Belgium bought Fortis for 9.4 billion euros ($10.26 billion) and sold 75 percent to BNP Paribas.

The finance ministry added that it would know at a later stage how much it received from Wednesday’s share sale. ($1 = 0.9163 euros) (Reporting by Robert-Jan Bartunek, editing by Robin Emmott)

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