Bladewatch.com

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/07/08/cnabn108.xml

Royal Bank of Scotland is on a collision course with Fortis, its consortium partner in the bidding war for ABN Amro, over how to split the Dutch bank’s lucrative corporate client list.

Household names such as Royal Dutch Shell, Phillips, Unilever and Ahold all have substantial relationships with ABN, thanks to its role as the dominant corporate bank in the Netherlands.

Under the terms of the consortium’s agreement, RBS would acquire ABN’s international corporate customers, while Fortis would retain control of its Dutch customers. But documents filed with US regulators last week suggest the two banks have yet to agree on what this means in practice. No agreement has been reached on who gets which clients.

Very interesting, the RBS consortium hasn’t been quite as vocal about how things have been going in the short term. Check out the article, the RBS consortium seems to be debating the customer split, but then if I as ABN get the cash for the shareholders does it matter which part of the consortium gets my customers?

We’ll need to see how the deal moves ahead, and what announcements are made this week.

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