• Most Popular
  • Most Shared

EU Commission warns Netherlands over ABN bids

Thu Apr 19, 2007 5:59am EDT

Stocks

   

(Adds comments, background)

BRUSSELS, April 19 (Reuters) - The European Commission warned the Netherlands on Thursday not to discriminate against bids for ABN AMRO AAH.AS amid concerns about the Dutch central bank's opposition to a consortium of potential buyers.

"All bids should be assessed in a non-discriminatory way," said Oliver Drewes, a spokesman for European Internal Market Commissioner Charlie McCreevy.

The Dutch central bank, which would have to approve any deal, said on Wednesday that a joint takeover offer by Royal Bank of Scotland (RBS.L), Fortis (FOR.BR) and Banco Santander (SAN.MC) would entail "strong risks and complications".

Separately, British bank Barclays (BARC.L) is in exclusive talks to take over ABN AMRO.

European Union countries recently adopted tougher rules to crack down on political interference in banking mergers which was strongly backed by the Netherlands, Drewes said.

"Commissioner McCreevy is disappointed if any member state goes down the protectionist route but would be even more disappointed if this is done by the Netherlands which again stood at the origins of the current directive...," he said.

((Reporting by Huw Jones; writing by William Schomberg; editing by Paul Bolding; Brussels newsroom + 32 2 287 6817, huw.jones@reuters.com)) Keywords: ABNAMRO TAKEOVER/EU

(C) Reuters 2007. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nL19117783


More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    PICTURES
    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    Oddly Enough
    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

    Global Markets