[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Friday, 6 July 2007, 10:36 GMT 11:36 UK
RBS given longer to bid for ABN
RBS sign
The consortium now has until 23 July to make a formal offer
The Dutch regulator has given the consortium led by Royal Bank of Scotland (RBS) until 23 July to make a formal offer for Dutch bank ABN Amro.

Rival bidder Barclays has also been given until 23 July to table an offer.

Both bidders are waiting for the Dutch Supreme Court to rule on whether ABN is allowed to sell its US bank LaSalle without getting shareholder approval.

The offer made by RBS and it partners, Spain's Santander and Belgium's Fortis, is dependant on LaSalle not being sold.

ABN has backed a 62.8bn euro ($85.3bn; 42.5bn) offer from Barclays, and plans to sell LaSalle to Bank of America for $21bn as part of the deal.

However, a group of ABN shareholders have tried to block the sale, saying it is not in their best interests and is only being done to block RBS, which has tabled a higher 71.2bn euro offer.

The Commercial Court ruled in favour of the shareholders' group, but the Advocate General disagreed.

The Supreme Court ruling is expected on 13 July.


SEE ALSO
RBS sets timetable for ABN offer
22 Jun 07 |  Business
Barclays 'may improve ABN offer'
13 Jun 07 |  Business
Barclays 'may drop eagle symbol'
19 Jun 07 |  Business
RBS outlines offer for ABN Amro
29 May 07 |  Business
Legal action over ABN bank sale
15 May 07 |  Business
Court blow to Barclays ABN deal
03 May 07 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific