ING tipped as most likely buyer ABN Amro

ING is being tipped as the most likely buyer for ABN Amro’s Dutch operations which are being sold as part of the rescue plan for financial services group Fortis.


Quoting sources close to the talks, news agency Reuters reported on Monday that the deal would be signed within the next two weeks. Both ING and Fortis declined to comment.
Fortis’ €24bn takeover of parts of ABN Amro last year is seen as the main reason for its current financial troubles.
ABN Amro’s asset management activities have already been integrated into Fortis and are not part of the deal.
The new Fortis CEO Filip Dierckx told reporters on Monday that the sale had not been forced on them. ‘We took the decision ourselves,’ he was reported as saying by the Telegraaf.
In the early hours on Monday morning, the governments of the Netherlands, Belgium and Luxembourg announced they would partially nationalise Fortis to save the company from collapse.
Fortis shares, which fell around 20% on Friday, were down a further 20% in early trading in Amsterdam on Monday.

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