The decision by Royal Bank of Scotland, Fortis and Santander to make a bid for ABN Amro took just 10 minutes, Fortis chairman Jean-Paul Votron says in an interview with the Belgian employers organisation VBO.
‘There was a bit of luck, but that is as quick as it was,’ Votron said. ‘There was never any real discussion about who wanted to do what.’
Fortis is to take over most of ABN Amro’s Benelux operations following the consortium’s successful takeover bid.
Votron told the VBO is would take a year to integrate ABN Amro and Fortis’ compay cultures, and two to three years to complete the operational switch.
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