off-the-wire

UPDATE 1-Netherlands to sell part of its stake in lender ABN Amro

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds more detail) AMSTERDAM, Feb 10 (Reuters) - The Dutch state said on Friday it intends to sell part of its shares in lender ABN Amro , reducing its stake to just under half. The state said the sale of shares would be started by Citigroup Global Markets Europe in the coming days for an undisclosed minimum price. ABN Amro shares opened trading up 0.6% at 16.65 euros in Amsterdam on Friday.


They rose to their


highest level in three years earlier this week, as the bank announced a new share buyback helped by stronger-than-expected fourth-quarter earnings.


ABN Amro was re-privatised in 2015, after a government bailout during the 2008 financial crisis, but the Dutch state still owns 56% of its shares and has not sold any since September 2017. (Reporting by Bart Meijer; editing by Clarence Fernandez and Jason Neely)

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