RBS raises offer for ABN Amro
A consortium led by Royal Bank of Scotland has raised its offer for ABN Amro to €71bn (£48bn) despite the loss of the American bank La Salle to Bank of America.

The Consortium proposal is the same as it was offering for ABN including US business La Salle, due to go to Royal Bank of Scotland, but comprises 93 per cent cash and 7 per cent RBS shares, against 79 per cent before.

RBS said it is paying 21 times earnings for ABN's corporate bank business, falling to eight times after cost savings have been extracted.

ABN supports Barclays' approach but its advisers are understood to be pressing Barclays to come up with more. Analysts said Barclays could yet raise its bid, and include a cash component, by identifying further synergies or by joining forces with another bank - such as HSBC - or promising disposals such as a sale of ABN's Latin American business.
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Vodafone refutes Verizon bid rumour
London: Wireless telecommunications giant Vodafone Group has refuted a report that said the company was considering a $160 billion bid for Verizon Communications.
The Financial Times reported in its FT Alphaville blog on Monday that Vodafone was considering such a bid, prompting Verizon's shares to jump more than 12 pc in premarket trade.

Verizon shares gave up most of those gains after Vodafone's denial, and rose only 1 pc at $42.21. Vodafone and Verizon have joint ownership of Verizon Wireless, the second-largest mobile service provider in the United States in terms of subscriber base.
Verizon has said it is interested in taking full ownership of the profitable asset.
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