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RBS Consortium Launches Website for ABN Employees

A consortium led by the Royal Bank of Scotland which is locked in a battle with Barclays to take over ABN Amro launched a website to explain to the Dutch bank's employees how the proposed merger would affect them.

The consortium made of RBS, Spanish Santander and Belgian-Dutch Fortis banks made a hostile bid to buy ABN Amro earlier this year, in which could be the world's biggest banking takeover.

The Web site includes reference to possible job losses for the 105,000 employees that could be affected by the Amsterdam-based bank's takeover.

It also reveals plans to move Fortis' Dutch headquarters from Utrecht to Amsterdam if the consortium wins the battle.

Uncertainty about the battle's outcome is leading to concerns about the bank's continuing operations and could prompt key employees leaving for new roles, analysts have said.

The site's launch comes just a day after Barclays President Bob Diamond said the consortium's bid would probably beat Barclays on price.

Barclays shares were 4.6% up in London.

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