RBS raises stakes in race for ABN Amro

Royal Bank of Scotland turned up the heat on rival Barclays after today sweetening the terms of its £48.2 bn (€71bn) offer for Dutch bank ABN Amro.

RBS, along with consortium partners Spain’s Santander and Belgium-Dutch group Fortis, kept its offer at €71.1bn but said it would now pay 93% of the consideration in cash in an attempt to trump Barclays’ agreed £45bn (€66bn) merger deal.