Wednesday, May 16, 2007

VEB to fuel second court case against ABN AMRO

Today the news came out that the share holders association VEB will again take legal action against ABN AMRO, this time for not complying with the rules as to disclosure of all relevant information on the bidding process. It has:
- filed a complaint with the District Attorney,
- asked the regulator, AFM, to conduct a further investigation into the matter,
- asked the supervisory and executive board of ABN AMRO on clarification.

There may be some truth behind the complaint, given that it appears that the media leakages are well organised to slowly feed information to the public and make them implicitly aware that Barclays/ABN AMRO is the only relevant deal on the table. And the media statements of Seegers of Barlays are quite strong and coloured (speaking of a phantom bid when referring to the RBS-bid).