Fortis trading suspension may end on Monday – CBFA

BRUSSELS, Oct 10 (Reuters) – Trading in shares of troubled Belgium-based financial services group Fortis<FOR.AS> may resume on Monday, Belgian financial markets regulator CBFA said on Friday.

‘We have high hopes that Fortis will release information today or by the latest tomorrow so that the suspension can be lifted on Monday,’ a CBFA spokeswoman said.

Shares in Fortis, which was carved up by the Dutch, Belgian and Luxembourg governments and partly sold to France’s BNP Paribas last weekend, have not traded all week.

The CBFA has said it was waiting for the remains of the company — consisting of international insurance operations and a share of a portfolio of structured credit products — to inform the market of the full consequences of the changes.

One issue would be what structured credit products the portfolio worth 10.4 billion euros ($14.27 billion) contains. Fortis has a 66 percent share of the vehicle, the Belgian state 24 percent and BNP Paribas 10 percent.

Analysts have said Fortis group would be worth about 3.5 to 4 euros a share, against last Friday’s close of 5.4220 euros. Market indications have been well below 2 euros.

(Reporting by Philip Blenkinsop; Editing by Andrew Macdonald) ($1=.7287 Euro) Keywords: FORTIS/SUSPENSION

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