Unions prefer Barclays to takeover ABN

12th August 2007, Comments 0 comments

13 August 2007, AMSTERDAM (dpa) - Dutch unions said Friday they wanted UK-based Barclays bank to take over ABN AMRO.

13 August 2007

AMSTERDAM (dpa) - Dutch unions said Friday they wanted UK-based Barclays bank to take over ABN AMRO.

A banking consortium consisting of Royal Bank of Scotland, Fortis NV and Banco Santander have been vying for months with the British bank for the takeover of the biggest bank in the Netherlands.

Friday, the workers unions FNV and De Unie visited the Dutch department of finance to discuss the ongoing takeover battle with top ministry officials.

FNV says Barclays' takeover proposal is the "least bad one." De Unie warned of major financial risks if the banking consortium buys ABN AMRO and subsequently splits it up.

Any final takeover proposal needs to be approved by Dutch Minister of Finance Wouter Bos, of the Labour party.

[Copyright dpa 2007]

Subject: Dutch news

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