Barclays determined to complete ABN merger

British banking giant Barclays said today it was determined to see through its merger plans with Dutch rival ABN Amro, despite moves from a Royal Bank of Scotland led consortium to scupper the deal with a possible £49bn (€71.7bn) counterbid.

Barclays told shareholders at its annual general meeting in London that its merger aims were in "stark contrast" to the rival consortium's takeover plans, which it said were simply to break up the ABN group.