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ABN Amro could face legal action over Barclays deal

Hedge fund investor TCI is reportedly planning to take legal action against ABN Amro bank if it fails to talk to potential buyers other than current suitor Barclays.

TCI is pushing for a sale or break-up of ABN Amro.

The Economist last week reported that the legal action could be forthcoming over the deal, and TCI has confirmed this report was accurate to Stock Market newswire AFX News.

Last week ABN Amro entered merger talks with Barclays, which is successful would create the biggest ever European financial services merger and the worlds fifth biggest bank.

A month prior to the merger talks, TCI and fellow activist investor Toscafund called on the Dutch bank to put itself up for sale or make large-scale disposals in an effort to revitalise its flagging share price performance.


Kensington sales star quits for Swift

Martin Sims has quit his position of head of sales development and project management at Kensington Mortgages to join the Swift Group. Swift has appointed Sims to move into developing its sector specific sales teams. He has also held a former position as sales and marketing director for Praxis. Swift says Sims will have a […]

CML gives its backing to TCF lender website

The Council of Mortgage Lenders has thrown its weight behind The TCF Lender Forum website in a bid to get the industry to embrace the Treating Customers Fairly initiative before next Saturday’s deadline.

RBS staff held to account

The Royal Bank of Scotland Group has warned its UK staff that they must have their primary bank account with the group or face disciplinary action.

Catholic launches fixed product

The Catholic has released a one-year fixed product for new purchases and remortgages.The Issue 1 mortgages, a one-year fix, has an initial interest of 2.9% for the first 12 months, then gives a discount off the SVR of 0.75% in years two and three. This includes free valuations and free legals for remortgages.There is a […]

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


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