HBOS takeover by Lloyds/ TSB has collapsed

opinions4u

m_c_s wrote: »

HBOS shares will dive tomorrow if true!

How much will they have to borrow from the Government?

Figures around te £10bn-£12bn mark being quoted for capitalisation. This is effectively the state share of the bank and will be well over 50% of value.

Apparently they have £150bn in new borrowing requirements over the next 18 months. Some of this may be forthcoming from existing sources. Whatever isn't will be gleefully lent by HM Taxpayer.

Nobody has yet been able to show that HBOS has severe bad debt problems, although it is obviously exposed to the housing market.

Only when the extent of bad debt becomes clear will we know if HBOS is a victim of rumour, innuendo and panic or a victim of its own push for growth.

Still, doesn't stop me sticking £3k in the 7% fixed rate Web Saver account for the next 6 months.

BigJonnyB

BBC are now reporting that the deal has not collapsed - but that Lloyds want the terms renegotiated, or the deal will collapse. Notice how the amount requested by the banks has risen from £40bn to £50bn within an hour :eek:

JB

sabretoothtigger

I think lloyds would still want the deal, they wont be allowed this in five years.
Maybe lloyds will buy out the government as part of the take over. I would expect their share price to rise if the deal fell through as they are one of the stronger banks apparently

MigsyBigsy

Do you think the Halifax International Regular saver will be affected in any way?

m_c_s

http://www.guardian.co.uk/business/2008/oct/12/hbos-lloydstsbgroup

Plan B!

superstar_2

!!!!!!, why don't they just get this done and dusted?

sabretoothtigger

Grab the bull by the horns and you might just end up being gored tbh
Brown is a politician not a matador, his species are not used to necessary actions of this kind hence why a strong city regulator really would have helped us past and present

http://www.youtube.com/watch?v=ReJ-0E4ArpA

MigsyBigsy wrote: »

Do you think the Halifax International Regular saver will be affected in any way?

no

Andrew64

The Telegraph is also doubtful about the take-over:

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3185120/Financial-crisis-HBOS-and-RBS-to-be-nationalised-in-50-billion-state-intervention.html

"Together with Northern Rock and Bradford & Bingley, it will mean the Government has four of the country’s biggest lenders under its control. The decision also means Lloyds TSB’s takeover of HBOS faces collapse."

nightwatchman

I logged in to my HALIFAX account on-line and I have no access any more to my current or savings account. Their website is working OK as I had no difficulty to log in and my credit card statement is accessible.
However I can not move money in or out from my other accounts.
I try to use the tel. banking and a very stressed up CS adviser said that they have difficulties at the moment and they could not help me.

What is going on? Are they going down or what?
Has anyone had the same problem?

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Edited

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False alarm folks.

Everything is works ok now.

Sorry.