Business Comment: Abn Amro Chief 'Does a Ratner' Over Bank's Worth

Summary

---

THE gaffe-prone boss of Dutch bank ABN Amro, Rijkman Groenink, never seems to know when to keep his mouth shut.

Last week, he told shareholders in consortium bidder Fortis that they should vote against the rights issue that is vital to the RBS- led group's GBP 48bn offer. In effect, he was telling them that his bank wasn't really worth that much. It was Groenink's Gerald Ratner moment.

See the full content of this document

Extract

---

Business Comment: Abn Amro Chief 'Does a Ratner' Over Bank's Worth

The sides responded differently, Barclays clearly seeing it as an endorsement of its bid, while Sir Fred Goodwin, the RBS chief executive, was keeping his counsel at Friday's interim announcement although he was obvious...

See the full content of this document

---