Splitting ABN Amro will take 3 years

11th May 2007, Comments 0 comments

11 May 2007, AMSTERDAM – Splitting up ABN Amro will take the consortium of Fortis , Royal Bank of Scotland and Santander at least three years. The consortium itself says this in the proposals it presented to ABN Amro last weekend, the Financieele Dagblad reports.

11 May 2007

AMSTERDAM – Splitting up ABN Amro will take the consortium of Fortis , Royal Bank of Scotland and Santander at least three years. The consortium itself says this in the proposals it presented to ABN Amro last weekend, the Financieele Dagblad reports.

Insiders confirm that the consortium made ABN Amro a proposal in which Fortis and Royal Bank of Scotland (RBS) would be working until at least 2011 to split up the bank's various divisions. Until that time the Belgians and Scots would remain joint owners of the company.

The third bank in the group, Santander, might leave the consortium in 2008 once it has secured ABN Amro's Brazilian and Italian activities.

The bank's activities in the Netherlands will take the most time to unravel.

[Copyright Expatica News 2007]

Subject: Dutch news

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