BANKING_Rival suitors for ABN canvass for support of workers

The rival bidders for ABN Amro will meet this week with the union representing workers at the Dutch bank, to explain the implications of their opposing bids. The European Works Council requested the meetings as it said it needed a better understanding of the repercussions of each offerbefore it could throw its support behind either one. Barclays' agreed [euro]64bn ([pound]44bn) offer for the Dutch bank would lead tomore than 23,000 job losses. The rival [euro]71bn bid from Royal Bank of Scotland, Santander and Fortis would create 19,000 redundancies. Fortis, the Belgian group that would take over the Dutch operations under the consortium's breakup plan, will lead the talks for the group. The latter's chances hinge on a decision expected next month by a Dutch court on the legality of an already agreed sale of ABN's American business, which RBS covets.

Further reading Learn the history of Scotland's bank notes at rampantscot-land.com/SCM/story.htm

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