Commonwealth Bank ends talks to buy ABN Amro units

The risks in integrating the businesses was too high given the current economic climate and uncertainty in world financial markets, the bank said in a statement yesterday.

The owner of the businesses, Royal Bank of Scotland, will retain them after failing to find a buyer, Bloomberg News reported. The U.K.'s No. 2 bank is trying to sell assets after acquiring ABN Amro of the Netherlands in 2007 for about 14 billion euros.

Among the businesses is a half stake in brokerage ABN AMRO Craigs, which is owned 50-50 by senior employees of the firm and ABN Amro Holdings.

Compare deposit rates and view special rates online or sign up to the Deposit Rates news alerts. www.depositrates.co.nz

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

28th October 2021 Morning Report
Wellington Drive Technologies Limited (NZX: WDT) Performs Strongly in Q3-2021
Ryman Healthcare Limited (NZX: RYM) Acquires Extensions to Two Existing Victorian Sites
Promisia Healthcare Limited (NZX: PHL) Banking Covenant Update
Pictor Limited Announces Start of US Clinical Trials for SARS-CoV-2 Serology Test
Arvida Group Limited (NZX: ARV) Opening of Rights Offer
Move Logistics Group Limited (NZX: MOV) Announces $40m Capital Raise
27th October 2021 Morning Report
The a2 Milk Company Limited (NZX: ATM) Investor Day 2021
Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer