BeNeLux authorities nationalize Fortis

**UPDATE (11:53): Fortis issues press release,
shares continue slump, Dexia shares plummet**

De Tijd and The Standaard are reporting that the national governments of Belgium, The Netherlands and Luxemburg are set to become 49% minority owners of Fortis banking divisions in the BeNeLux region. The rescue operation will cost the taxpayer 11.2 billion euros. Fortis will sell off ABN AMRO shares to the highest bidder.