RBS group postpones ABN talks after LaSalle deal

Mon Apr 23, 2007 2:20pm BST
 
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LONDON (Reuters) - A consortium of European banks considering an offer for ABN AMRO said they had postponed a Monday meeting with the Dutch bank after it announced the planned sale of its U.S. business LaSalle.

ABN and Britain's Barclays earlier on Monday said they had agreed a merger valuing ABN at around 67 billion euros (46 billion pounds), and ABN said it had also agreed to sell LaSalle to Bank of America.

The consortium of rival ABN suitors, which includes Royal Bank of Scotland, Santander and Fortis, said they had been due to meet ABN on Monday afternoon to present their proposals.

"The banks' proposals include the retention of LaSalle Bank. In view of ABN AMRO's decision to sell LaSalle Bank to Bank of America, the banks need to understand the circumstances under which this sale can be terminated," they said in a joint statement, adding they had requested additional information.

"Accordingly, the banks do not consider it appropriate to meet with ABN AMRO today."

 
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