Dexia Group shares were suspended on Thursday, when press reports of negotiations with Qatari investors to take over Dexia’s BIL subsidiary first emerged, a spokesman for Belgium’s financial regulator told Delano. The FSMA cleared trading on the Euronext bourse following an official announcement by Dexia’s board outlining its restructuring plan.
Weighed down by the European sovereign debt crisis, Dexia is being forced to sell profitable divisions--including all of its businesses in the Grand Duchy--as part of a bailout by the Belgian, French and Luxembourg governments.
Dexia shares fell by more than a third in the first few minutes after trading resumed. However, the price recovered and closed the day down only 4.7% at €0.81, which places the market value of the bank at €1.6 billion, according to the Reuters news agency.
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