"Fortis rules out higher bid on ABN"

12th June 2007, Comments 0 comments

12 June 2007, AMSTERDAM - Fortis does not plan to increase its bid of EUR 71 billion on ABN Amro. Jean-Paul Votron, CEO of the Belgian-Dutch bank insurer, said this on Tuesday in an interview with the French newspaper La Tribune. Votron says it would be "difficult" to outdo the bid from Royal Bank of Scotland, Fortis and Santander, "especially because our bid is 79 percent in cash." The CEO thinks that the bid from the consortium is an accurate reflection of ABN Amro's worth. "We will not raise the bid."

12 June 2007

AMSTERDAM  - Fortis does not plan to increase its bid of EUR 71 billion on ABN Amro. Jean-Paul Votron, CEO of the Belgian-Dutch bank insurer, said this on Tuesday in an interview with the French newspaper La Tribune.
 
Votron says it would be "difficult" to outdo the bid from Royal Bank of Scotland, Fortis and Santander, "especially because our bid is 79 percent in cash." The CEO thinks that the bid from the consortium is an accurate reflection of ABN Amro's worth. "We will not raise the bid."

Votron also said he was confident he could raise EUR 15 billion from the market in order to finance Fortis' part of the takeover price.

[Copyright Expatica News + ANP]

Subject: Dutch news

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