Rumours continued to swirl last week about the prospects for
ABN Amro's futures business and a potential sale to UBS or Man
Financial with Allan Zavarro ABN's head of global futures,
telling FO Week that "the bank has put the business up
for review," but declining to comment further.
Sources said ABN was still considering whether to sell or
keep the business although a decision could be made soon. In
March, Zavarro quashed rumors of a possible deal (see FO
Week Vol 11 No 11) but reports naming Man and UBS
resurfaced over the past week. Sources close to potential
bidders said that reports of Man offering $600m for ABN Amro's
futures division were incorrect, with one senior FCM source not
involved in the bidding process saying a valuation closer to
$300m was more accurate.
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