HBOS has confirmed that it is in advanced talks with Lloyds TSB about a merger. According to the BBC, the Prime Minister is personally involved and the government has said it will overrule any concerns raised by competition regulators.
Apparently it's in response to a spiralling run on HBOS funds and shares following the US sub-prime issues, but this is pretty serious stuff - they are two of the most established financial institutions in the country.
This really is a very bizarre time.
Apparently it's in response to a spiralling run on HBOS funds and shares following the US sub-prime issues, but this is pretty serious stuff - they are two of the most established financial institutions in the country.
This really is a very bizarre time.
