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£612m For B+B savings arm

Wolf_Man
Wolf_Man Posts: 99 Forumite
in Savings & investments
£612m For B+B savings arm, can someone tell me what Santander are getting for this?
«13

Comments

  • isofa
    isofa Posts: 6,091 Forumite
    197 B+B branches and their entire savings business portfolio...
  • tradetime
    tradetime Posts: 3,200 Forumite
    A pretty good deal, on the surface.
    Hope for the best.....Plan for the worst!

    "Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    A bargain.

    The opportunity to use this money to fund their lending (instead of relying on wholesale markets).
  • bristolleedsfan
    bristolleedsfan Posts: 12,931 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Savers are easily mobile, many will move their funds to higher fixed rate accounts when their fixed rate accounts mature and many will move their funds to a wholly British owned financial institution.
  • lisawilko
    lisawilko Posts: 8 Forumite
    Anybody got any idea on what will happen to the shares that people have in B&B, especially as only 4 months ago they sold off another load of shares to their current share holders at cheap prices?
  • MarkyMarkD
    MarkyMarkD Posts: 9,913 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    The government will get a comedy value made up, like for Northern Rock, and the shareholders will get between nothing and a few buttons per share. :rolleyes:
  • MarkyMarkD
    MarkyMarkD Posts: 9,913 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    LOL. Yes, probably. ;)
  • napoleon
    napoleon Posts: 611 Forumite
    lisawilko wrote: »
    Anybody got any idea on what will happen to the shares that people have in B&B, especially as only 4 months ago they sold off another load of shares to their current share holders at cheap prices?
    Toilet Paper
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    bristolleedsfan wrote: »
    Savers are easily mobile, many will move their funds to higher fixed rate accounts when their fixed rate accounts mature and many will move their funds to a wholly British owned financial institution.
    Savers will chase a mix of rate and safety.

    Any evidence of Abbey savers jumping ship?
  • meester
    meester Posts: 1,879 Forumite
    bristolleedsfan wrote: »
    Savers are easily mobile, many will move their funds to higher fixed rate accounts when their fixed rate accounts mature and many will move their funds to a wholly British owned financial institution.

    Why would you flee a well-managed and well-regulated Spanish bank that never 'invested' in subprime to a British basketcase?
This discussion has been closed.
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