Barclays 'error' hits ABN bid

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Barclays 'error' hits ABN bid

2nd September 2007, 08:52:AM

Barclays faces a struggle to win the battle for ABN Amro, its Dutch rival, after its shares continued to dip. Last week the bank was forced to borrow £1.6bn from the Bank of England after a "technical error" meant it could not settle its trades through the Crest system. That triggered a share price fall, which makes its paper-heavy offer for ABN less valuable. RBS, which is also bidding, made a higher offer which is 93 per cent cash.

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Tags: amro, bank, barclays, business, meant, rbs, shares, technical

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Barclays 'error' hits ABN bid

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