ABN Amro mobilises workers

3rd May 2007, Comments 0 comments

3 May 2007, AMSTERDAM – The central works council at ABN AMro is calling on all bank employees to come to the Enterprise Chamber of the court today at 4 pm.

3 May 2007

AMSTERDAM – The central works council at ABN AMro is calling on all bank employees to come to the Enterprise Chamber of the court today at 4 pm.

The court will rule today on whether ABN Amro may go ahead with the sale of US subsidiary LaSalle to Bank of America.

ABN Amro is embroiled in a takeover battle at the moment. The bank has reached agreement on a takeover by British bank Barclays but a consortium of Fortis, Santander and Royal Bank of Scotland is currently working on a higher bid to buy ABN Amro and split it up.

ABN Amro's central works council says that the takeover discussion so far has been too centred on the interests of the shareholders, which is often focused too much on the short term. 

Employers' organisation VNO-NCW and Social and Economic Council chairman Alexander Rinnooy-Kan recently voiced similar concerns.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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