bank Barclays Plc has received the approval of the European Commission on Monday
in its bid to buy Dutch rival ABN AMRO for $89.10 billion.
Commission said it "concluded that the operation would not significantly
impede effective competition in the European Economic Area (EEA) or any substantial
part of it." The clearance has no bearing on who may actually win a bidding
war pitting Barclays against a consortium also seeking control of the Netherlands''
largest bank. The rival consortium is made up of Belgian-Dutch financial services
group Fortis, Royal Bank
of Scotland and Spain''s Santander, which have offered 71 billion euros. Fortis
shareholders in Brussels on Monday backed a 13-billion euro share issue for the
Fortis portion of the bid.