ABN Amro bid expected to proceed

Royal Bank of Scotland (RBS) has continued to press ahead with plans to takeover ABN Amro.

A spokesperson denied rumours that RBS was planning to sell its insurance businesses Churchill and Direct Line to fund the deal. "There's no truth in it whatosever," she said.

ABN Amro is expected to demand answers to key questions on tax and regulation about the RBS-led consortium's indicative €72bn (£49bn) cash-and-share deal.