Dutch bank shares soar over Barclays merger talk

SHARES in ABN AMRO, the biggest bank in the Netherlands, hit a record high on Monday after what sources said was a merger approach by Barclays for Europe’s biggest financial services deal.

As speculation of a takeover or break-up of ABN AMRO intensified, Barclays approached its Dutch counterpart with a merger blueprint that would create a global bank worth about €120 billion, sources familiar with the matter said.

Barclays, Britain’s third-biggest bank and with a big presence in Europe and Africa, acknowledged press speculation about its interest in Amsterdam-based ABN AMRO and said it would clarify its position before stock markets open on Tuesday.