In 2013, Belgium sold its remaining shares to Fortis Bank. In exchange, the Belgian state received a 10% share of the capital of the French group.
eIn 2009, the Belgian state sold 75% of Fortis Bank BNP Paribas in exchange for a 10% share in the capital of the French group. In 2013, the state government sold the remaining 25%, placing 3.25 billion euros in its pocket to reduce public debt. Good job, says Koen Geens, then finance minister. In 2017, Belgium sold a quarter of its share in the French group.
Good job? Taking into account the state-run dividends, weighted by debt savings, the Belgian state lost 1.2 billion euros. And I lost all control over the strategy of the first bank in the country.