Barclays says ABN Amro takeover is matter of strategy, not size

Barclays PLC and ABN Amro are trying to build one of the most powerful banks in the world, the Barclays' chief executive said Thursday, accusing rival bidders of trying to cut the Dutch bank into "heaven knows how many parts."

Barclays' bid would guarantee shareholders a faster and more sustainable rate of growth, John Varley said at the company's annual meeting, adding that a merger with ABN would also bring Barclays favorable exposure to emerging markets.

"The merger of Barclays with ABN Amro would, in my opinion, get us to the optimal business portfolio a great deal sooner than we could otherwise achieve it," he said.

Read Full Article from International Herald Tribune

- Posted: 2007-04-26 09:55:00

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