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the big merger- is it even legal?
brightonman123
Posts: 8,535 Forumite
http://news.bbc.co.uk/1/hi/business/7622380.stm
LloydsTSB/HBoS merger announced.
I cannot beleive such huge join-up like this isnt being barred, or at least be checked into by the powers that be..
has the govt. lost its bottle, or do 'interested parteies' have too much to lose if hbos went under, or had to be 'nationalised', like N.Rock?
owe £5,00 these days, you are in trouble.
owe £5m, the bank is in trouble.
owe £5bn, the whole country is..
LloydsTSB/HBoS merger announced.
I cannot beleive such huge join-up like this isnt being barred, or at least be checked into by the powers that be..
has the govt. lost its bottle, or do 'interested parteies' have too much to lose if hbos went under, or had to be 'nationalised', like N.Rock?
owe £5,00 these days, you are in trouble.
owe £5m, the bank is in trouble.
owe £5bn, the whole country is..
Long time away from MSE, been dealing real life stuff..
Sometimes seen lurking on the compers forum :-)
Sometimes seen lurking on the compers forum :-)
0
Comments
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Allow the merger or allow an organisation with £258bn in savings to sink - that could have happened in days. The £4bn in the FSCS would have struggled!
They had no choice.0 -
It's not illegal but it certainly has been unconventional and has required certain laws to be activated.
Given the choice the outcome is for the best. However, the way it was done leaves a lot to be desired. It stinks of old Labour and smoke filled back room style management.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Very similar to the Nationwide deal IMO. All normal rules out of the window at the moment, everything is a done deal.
Incidentally the way the Lloy/HBOS deal was fed to the public (i.e. controlled leaks to Peston's blog) was a flaming disgrace. Should have suspended shares in both companies & issued an RNS. Absolute clowns running the show at the moment.0
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