Europe on Alert Against British "Locust" Funds

3 de may de 2007

<body><div id="article"><tr><td height="28" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr><h1>Europe on Alert Against <em>British</em> "Locust" Funds</h1><p>May 3 (EIRNS)--In the wake of moves for a parliamentary hearing on hedge fund takeover plans in Switzerland, warnings are now out in neighboring Austria, against hedge fund plans to take over Austria's 50 biggest corporations. The Vienna daily, Die Presse, covers that today under a picture of a bright green locust. Other Austrian papers also refer to the "locust funds."</p><p>According to today's Business Online website, Rijkman Groenink, CEO of ABN Amro Bank, in a letter on May 1, voiced suspicion of clandestine cooperation between Royal Bank of Scotland - now the prime bidder for a takeover of ABN - and at least three hedge funds. Groenink demands that RBS clarify its relationship to the funds, identified as TCI ("The Children's Investment Fund,") Algebris, and Toscafund. <em>All three are British.</em> </p></div></body>