Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/wealth-manager/article/a599721
Lloyds on verge of selling 630 branches
by Daniel Grote on Jun 27, 2012 at 08:00
It said the 'broad commercial terms' of the deal could be announced today, it said, according to one person familiar with the negotiations.
'The prospects have definitely advanced significantly in the past few days and the likelihood of a deal is probably 70-30 now versus 50-50 a week ago,' they said.
Co-op's bid for the branches has been beset with difficulties. It was announced as a preferred bidder in the spring, but a period of exclusive talks with the bank lapsed due to problems with the takeover.
Reports had suggested Lloyds was looking a float of the branches as a separate business as the likelihood of a takeover dwindled.
News sponsored by:
Subscribe to Wealth Manager to get the inside track on your rivals' moves
Keep up to date with how your peers are allocating their clients' assets by subscribing to Wealth Manager magazine.
Today's top headlines
More about this:
Look up the shares
More from us
- Lloyds nears branch sell off as Co-op deal back on track
- Co-op to hold crunch talks as Lloyds bid falters
- Co-op deal for Lloyds' 632 branches back on track
- Fears FSA could block sale of Lloyds branches
- Lloyds weighs up Verde float as sale prospects dwindle
What others are saying
Aberdeen Live supplement: Fundamentals point to ongoing flows and solid returns from EMD
After a record year for inflows and market-leading performance in 2012, emerging market debt has taken a large step towards the mainstream. Our recent debate covers the outlook for the asset class this year and where opportunities can be found.
On the road
on May 21, 2013 at 14:06