Fortis BNP Paribas: a new uncertainty
This case is part of a case series and is available at The Case Centre with reference no. 414-078-1.
The historical decision to nationalise the activities should have been the start of a new beginning for Fortis Bank. However, in this second part of the case it becomes clear that it was only the start of a prolonged period of additional uncertainty, characterized by legal wrangling, disgruntled shareholders, rumours and misinformation.
This uncertainty would eventually come to an end on April 28th, the day the Fortis Holding shareholders voted in favour of the deal with BNP Paribas. Now, joining one of the most solid European bank groups, it would seem that a safe haven is reached. However, despite the promising situation, there still lurk some risks for the employees of the Fortis Bank. One of these risks is the overlapping businesses/ functions of BNP Paribas and Fortis Bank, which will lead to downsizing