French financial services major, BNP Paribas, is likely to decide on the integration of Fortis' Indian operations with itself by January that includes Dutch Bank ABN Amro's India asset management business.
This follows BNP Paribas agreeing to acquire Fortis' business in certain geographies globally.
Early this month, BNP Paribas has agreed to acquire Fortis' Belgium and Luxembourg operations as well as international franchises for an estimated euro 14.5-billion after the latter failed to survive the global financial turmoil.
If the acquisition goes through, BNP Paribas will have a combined deposit base of around euro 600-billion and a 75 per cent stake in Fortis Belgium.
"A clear picture will emerge on this matter in the next two-three months...Given that BNP Paribas has a controlling stake in Fortis, it is likely to integrate ABN Amro's mutual funds business here, which is a part of Fortis now," a source in the know told PTI here.
However, chances of BNP Paribas selling a part of the Fortis' business in some regions to a third party cannot be ruled out if it finds that a more viable option, the source said.
When contacted, BNP Paribas officials declined to comment on the matter.
If BNP Paribas decides to acquire Fortis' Indian operations, it may first exit its holding in Chennai-based mutual funds company, Sundaram BNP Paribas, as Sundaram owns a majority stake in the JV.