Fortis board backs ABN Amro merger

The management board at financial services group Fortis is firmly behind plans to merge with ABN Amro, a spokesman said on Tuesday, following reports the board wanted to call a temporary halt.


‘Fortis is fully behind the integration plan and is busy with the preparations,’ the spokesman told news agency ANP.
Earlier the head of the group’s workers’ council told a trade paper the board wanted a one-year halt to the merger process. The works council said last month it wanted a temporary stop.
Tim op ten Noort said all layers of the group were in favour of a delay because of fears that ABN Amro will dominate the merged organisation.
Both banks have been nationalised and are to combine into a single operation prior to an eventual sale.

Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation