Post By Martin 0 Comments
June 2007 13

Unions support of Barclays lacking?

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=breaking
FundsNews&storyID=2007-06-12T173253Z_01_L12815433_RTRIDST_0_ABN-TAKEOVER-UNIONS.XML

AMSTERDAM, June 12 (Reuters) – Barclays’ (BARC.L: Quote, Profile , Research) lack of clarity on job cuts at Dutch bank ABN AMRO (AAH.AS: Quote, Profile , Research), which it plans to buy, showed contempt for ABN’s Dutch employees, Dutch union CNV said on Tuesday.

Four Dutch unions met with Barclays’ management on Tuesday to discuss the merger plan, said CNV representative Ahmed Kansouh, but he was disappointed.

“Barclays was cowardly and showed contempt for employees. They could at least have given an estimate for job losses in the Netherlands,” Kansouh said.

It will be interesting to see if these kind of statements have any affect on the ABN transaction, whether it might make the RBS deal more interesting? We’ll need to see in the mean time the deal goes on.

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