Shares in the biggest Dutch bank, ABN Amro, reached a six-year high on Wednesday after hedge fund TCI launched a campaign to have the bank split up and sold off.
The hedge fund claims to have at least 1% of ABN Amro’s shares and hopes get other shareholders to back its five-point plan before the bank’s AGM on April 26.
‘We believe that this strategy would not only create significant shareholder value but also best serve all the stakeholders who would otherwise suffer over the long term from the structurally declining competitive position of ABN Amro,’ Reuters quoted the hedge fund as saying.
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