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Rijkman Groenink, the CEO of ABN Amro, is not winning any popularity contests these days. In fact, many want him to resign. However, he says he's staying put. The bank has been locked in a buyout saga that shareholders accusing it of going over their heads. In fact, VEB - an ABN shareholder group - has filed a complaint with a Dutch court. They are asking the court to see if ABN committed market abuse by leaking details of its talks with a consortium of banks led by the Royal Bank of Scotland. Meanwhile, a member of that consortium - Fortis - is now considering pulling out of the alliance. If that happens, the deal may die altogether, as there is concern over whether or not the other banks could make up for the loss of funding. Their current bid for ABN is $98.5 billion. ABN Amro Holding N.V. Chief Executive Rijkman Groenink said he will not be stepping down from his post amid the pressures to resign over the heated bidding war for Dutch bank. Adding to the pressure, an ABN shareholder, investor group VEB, filed a complaint with a Dutch court alleging the Dutch bank leaked information about its discussions with a consortium led by Royal Bank of Scotland Group Plc. The group is asking whether market abuse was committed as a result of the leaks. (Continue reading this story on BankNet 360)
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