Dutch auction

Fortis finally admitted on Monday what many have known for a while: that the timing and price of its ABN Amro acquisition were terrible. But that doesn’t explain why Fortis looks to be rushing to sell the bulk of these assets now. Newly appointed chief executive, Filip Dierckx, said the board of Fortis took the decision on its own - and was under no pressure from regulators. Fortis wants to focus on its core business. But what’s being put up for sale - retail and private banking in the Benelu...