Bos wants clarity on ABN Amro

8th May 2007, Comments 0 comments

8 May 2007, AMSTERDAM – Finance Minister Wouter Bos has called on all parties in the takeover battle for ABN Amro to clarify their plans as soon as possible. Bos said in Brussels today that he has been urging his contacts close to the situation to give clarification for some time.

8 May 2007

AMSTERDAM – Finance Minister Wouter Bos has called on all parties in the takeover battle for ABN Amro to clarify their plans as soon as possible. Bos said in Brussels today that he has been urging his contacts close to the situation to give clarification for some time.

Bos specifically wants clarification from the consortium comprised of Royal Bank of Scotland, Fortis and Santander. "We know all the details of the offer from British bank Barclays, we don't know the details of the consortium's plans," he said.

Bos has been monitoring the case but staying behind the scenes because, as he said, "any comment could put my independent position in danger."

The finance minister will ultimately have to approve any takeover of ABN Amro. He will be advised by the president of the central bank in his decision.

"Monitoring of these cases traditionally takes place behind the scenes, with the aim of protecting the confidence of customers and large financial interests." Consumers need not worry about their savings and other financial products as the Nederlandsche Bank and finance ministry are looking out for their interests.

Bos thinks it somewhat contradictory that the Dutch are complaining that a piece of the Netherlands will be lost with the takeover of the bank, while they applaud when Dutch companies take over foreign businesses.

The minister stressed that it was the bank that put itself up for sale. "Of course as a Dutchman I find it unfortunate that Dutch brand names are being lost. Whether that will happen with ABN Amro remains to be seen. But emotions are one thing, and rules are something else."

[Copyright Expatica News + ANP 2007]

Subject: Dutch news

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