Dutch central bank scuppered Icesave sale

The Dutch central bank stopped the sale of the Dutch activities of bankrupt internet bank Icesave to another bank, the Financieele Dagblad reported at the weekend.

The paper says that the bank agreed to compensate savers, effectively halting the sale.
Official receiver Marinus Pannevis later told news agency ANP that 10 banks had shown serious interest in buying the 164,000 Dutch Icesave accounts.
The accounts, containing a combined €1.6bn, would have generated between €5m and €10m, he said. That money would have been split between Icesave’s Dutch debtors, including savers who had more than €100,000 in the Icelandic bank. Savings are only guaranteed up to €100,000.
‘At first the central bank thought it was a good idea. But by mid-November it went very quiet,’ Pannevis told ANP. ‘It was then very clear that permission would not be forthcoming.’
It is not clear why the bank changed its mind, ANP says.

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