Fortis, Belgium's biggest banking and financial services group, is among a consortium of three banks which took over the Amsterdam based ABN-AMRO Bank. Fortis teamed up with the Royal Bank of Scotland and Spain's Banco Santander to put forward a €71 million bid for ABN-AMRO. Fortis had to fork out €24 billion, cash.
Deminor realises that the shareholders would benefit more from a recovery in its share price.
Deminor and the Belgian consumer rights watchdog Test-Aankoop have been pushing for an EGM, where a vote of confidence over Fortis' board of management can be held. Deminor says that changes in the company's corporate structure are also necessary.
At the moment Deminor is getting as many private, but also large institutional shareholders (such as fund managers, pension funds and holding companies), together as possible to push for action.
The Dutch shareholders group VEB also expects Fortis to answer questions about its June capital hike. The Dutch group says it may start legal action if information is not forth-coming.