Spanish sale fails to allay Fortis rights issue concerns

Fortis has sealed the €980m ($1.35bn) sale of its Spanish insurance joint venture to help finance its proposed acquisition of ABN Amro, but analysts are still concerned about the Dutch-Belgian financial group's impending €13bn rights issue.

Spanish bank La Caixa has bought out Fortis's stake in insurance joint venture CaiFor.

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Ray Dalio Sells Last Stake in Bridgewater, the Hedge Fund That Made Him a Billionaire