ABN Amro in court over acquisition ban
Nationalised bank ABN Amro went to court in Luxembourg on Tuesday to appeal against a Brussels ban on making significant acquisitions.
The European Commission implemented the ban in 2011 and said it must remain in force until the Dutch government sells its stake in the bank. ABN Amro was nationalised at the height of the financial crisis in 2008.
ABN Amro went to the EU General Court, arguing the ban on acquisitions makes it unable to act with ‘strategic flexibility,’ the Financial Times reported.
It is also disproportionate to the state support it received compared with other banks, ABN Amro is quoted as saying by news agency ANP.
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