VEB wants EU investigation into DNB

24th May 2007, Comments 0 comments

24 May 2007, AMSTERDAM – The Dutch Shareholders' Association (VEB) has asked European Commissioner for the Internal Market Charlie McCreevy to launch an investigation into the role of the Nederlandsche Bank (DNB) in the takeover battle over ABN Amro, the Financieele Dagblad reports.

24 May 2007

AMSTERDAM – The Dutch Shareholders' Association (VEB) has asked European Commissioner for the Internal Market Charlie McCreevy to launch an investigation into the role of the Nederlandsche Bank (DNB) in the takeover battle over ABN Amro, the Financieele Dagblad reports.

The VEB wants to know whether the DNB is being impartial, it announced on Thursday.

The investors' association also wants McCreevy to look into whether ABN Amro has treated interested buyers Barclays and the consortium led by Royal Bank of Scotland "fairly and equally."

President of DNB Nout Wellink has been reluctant to comment thus far on the takeover battle. He clearly took the bank's side initially when British hedge fund TCI sent a letter to the bank asking that it split up. He said that the time that he thought TCI's demand that ABN Amro split was a "bridge too far."

VEB has seized on these comments to file a complaint with the supervisory board of the Nederlandsche Bank. Wellink was reprimanded at the time for the comments by the European Commission. He has said hardly anything about the matter in public since.

[Copyright Expatica News 2007]

Subject: Dutch news

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