Shares in Dutch Bank ABN AMRO fell as much as 11 percent on Friday as analysts cited worries that Fortis may find it hard to finance its part of an offer for ABN amid growing concerns over credit availability, Reuters reports.
Fortis together with Royal Bank of Scotland and Spain’s Santander, has made a 71 billion euros ($97.24 billion) mostly cash bid for ABN, the Netherlands’ biggest bank, while Britain’s Barclays is offering about 63 billion euros.
Belgian-Dutch Fortis needs 24 billion euros in funds to finance its part of the deal, but a Fortis spokeswoman said financing was not an issue because of a bridge loan facility that allows it to sell assets at appropriate moments.
Analysts said it was unlikely Barclays would drop its bid for ABN, mostly in shares, a possibility talked about among traders.