Bos reserved about possible merger

20th March 2007, Comments 0 comments

20 March 2007, AMSTERDAM – Finance Minister Wouter Bos was reserved when asked for comment today on the possible merger plans of ABN Amro and British bank Barclays. Via a spokesperson he said that a possible merger would fit in with the developments on the European banking sector.

20 March 2007

AMSTERDAM – Finance Minister Wouter Bos was reserved when asked for comment today on the possible merger plans of ABN Amro and British bank Barclays. Via a spokesperson he said that a possible merger would fit in with the developments on the European banking sector.

If the talks should lead to a takeover, the law requires that a certificate of no objection be issued, in this case by the finance minister, since ABN Amro is one of the five largest banks in the Netherlands.

Bos's spokesperson said he would "consider carefully a request for a certificate of no objection."

He will take into account "the need to guarantee healthy and prudent management" at the bank, but also "the stability of the financial system as a whole." Bos will ask for advice from De Nederlandsche Bank in his deliberations.

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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