shares

The Dutch government made approximately 450 million euros by selling 20.4 million shares in former Fortis insurer ASR. The shares were sold for 22.15 euros each, NLFI announced on Friday, ANP reports.

The NLFI is the foundation that manages the Dutch government's shares in financial institutions.

With the sale of 20.4 million shares on Thursday, the government's share of ASR reduced from 63.7 percent to 50.1 percent. the government plans to further reduce its share in ASR, but has to wait at least 90 days before another transaction can happen.

Investors' association VEB filed a lawsuit against Volkswagen last week over the diesel software scandal on behalf of Dutch investors. In the days after the scandal was revealed, Volkswagen shares lost more than 35 percent of its value. According to the VEB, Volkswagen misled its shareholders with false and misleading statements.

The government of the Netherlands does not plan to buy any shares from airline Air France-KLM. Employers’ organization VNO-NCW has called on the cabinet to take a stake in the airline and as Minister of Finance Dijsselbloem points out, there has been no request for additional capital.

The Netherlands' largest cable operator, Ziggo, is dropping 450 employees in its merger with Dutch cable company UPC, NOS reports. Several hundred temporary workers, freelancers, independent contractors and third-party hires will also be let go.

ING has announced that it is brining its insurance branch to the Amsterdam stock exchange in an IPO move. This may take place within two months, the NOS reports.