Bladewatch.com

http://www.hemscott.com/news/latest-news/item.do?newsId=48082158920707

BRUSSELS (Thomson Financial) – Barclays Bank PLC’s proposed acquisition of Dutch peer ABN Amro Holdings NV is set for EU clearance, sources told Thomson Financial News.

The sources said the deal will avoid the scrutiny of an in-depth ‘second phase’ review by EU regulators. The EU Commission is due to rule on the deal on Monday Aug 6.

Sources said that while the transaction has potential overlaps over retail banking operations in the Netherlands and the UK, the groups’ target markets are global, thus alleviating local anti-competitive effects.

A source said: ‘There is no suggestion that the merger will present a major antitrust problem. This is due to the level at which the two companies overlap.”Also, cross-border banking mergers are very rare. I think the commission will be well-disposed or sympathetic towards this merger’.

Very cool, I wonder how this affects the transaction, it’s been quiet for the last few days.

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