BRUSSELS, Feb 2 (Reuters) - Chinese insurer Ping An, which holds a 5 percent stake in Belgian-Dutch financial group Fortis, may vote against Fortis's revised deal with the Belgian government and BNP Paribas.
'We have a few questions outstanding with the (Belgian) federal government, so we hope to get answers by the end of the week or the coming weekend,' Stefan Odeurs of law firm White & Case, who represents Ping An, said on Monday.
'If we don't get an answer, or if it's not a satisfactory answer, the current intent of Ping An is to vote against the transaction,' he added.
Odeurs declined to specify the nature of Ping An's outstanding questions to the Belgian government.
On Friday, French bank BNP Paribas, the Belgian state and Fortis agreed on revisions to a deal to carve up Fortis, after a revolt by Fortis shareholders over the initial terms.
Under the new terms, listed Fortis Holding would retain a 90 percent stake in the Belgian insurance business with BNP Paribas acquiring 10 percent for 550 million euros.
It would also buy 75 percent of Fortis Bank Belgium and 16 percent of Fortis Bank Luxembourg, as originally agreed.
Fortis shareholders are set to vote on the new deal at a meeting on Feb. 11.
Belgian government representatives were not immediately available to comment.
(Reporting by Anne Jolis; Editing by Phil Berlowitz) Keywords: FORTIS PING AN/ (Brussels newsroom; +32 2 287 6810, fax +32 2 230 7710) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We have a few questions outstanding with the (Belgian) federal government, so we hope to get answers by the end of the week or the coming weekend,' Stefan Odeurs of law firm White & Case, who represents Ping An, said on Monday.
'If we don't get an answer, or if it's not a satisfactory answer, the current intent of Ping An is to vote against the transaction,' he added.
Odeurs declined to specify the nature of Ping An's outstanding questions to the Belgian government.
On Friday, French bank BNP Paribas, the Belgian state and Fortis agreed on revisions to a deal to carve up Fortis, after a revolt by Fortis shareholders over the initial terms.
Under the new terms, listed Fortis Holding would retain a 90 percent stake in the Belgian insurance business with BNP Paribas acquiring 10 percent for 550 million euros.
It would also buy 75 percent of Fortis Bank Belgium and 16 percent of Fortis Bank Luxembourg, as originally agreed.
Fortis shareholders are set to vote on the new deal at a meeting on Feb. 11.
Belgian government representatives were not immediately available to comment.
(Reporting by Anne Jolis; Editing by Phil Berlowitz) Keywords: FORTIS PING AN/ (Brussels newsroom; +32 2 287 6810, fax +32 2 230 7710) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.