Fortis to focus on internal processes, not acquisitions.

Fortis, the Belgian-Dutch banking combine, said it won't be conducting any takeover or merger talks in coming months as it sits out the shakeout in the financial-services industry. The news was reported by Dutch Het Financieele Dagblad. Fortis said it would come better out of the shakeout that's currently taking place, as takeover candidates will only have become cheaper a couple of months from now. Fortis said the company was focusing on four internal priorities: cost reduction, risk control, guarding solvability and binding clients. 14-10-2002
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