Abbey National shares keep or sell????

jnielow

Hello All,

I was round my parents over the weekend just generally chatting etc!. My dad said he has got some Abbey shares which he is not sure what to do with ie keep or cash in?. He has around 800 worth I think about £7 each.My dad was saying that they are about to be brought out again by someone???.

Has anyone got some of these shares, what do you think would be the best course of action with these shares?

cheers

jason

Browntoa

I thought they had already been taken over by Banco Santander

http://news.bbc.co.uk/1/hi/business/3925489.stm

dunstonh

My dad was saying that they are about to be brought out again by someone???.

AFAIA, there are no plans for Banco Santander to be bought out by anyone. They appear to be a predator rather than a victim. They are selling the Scottish Mutual and Scottish Provident books to Resolution though.

what do you think would be the best course of action with these shares?

No-one can answer that without having a crystal ball.

cheerfulcat

Hi, jason,

Has anyone got some of these shares, what do you think would be the best course of action with these shares?

As others have said, Abbey National were taken over in 2004; your dad should now hold Banco Santander shares. If he has no other shareholdings or collective investments then holding shares in a bank based in Spain and paying its dividends in Euros would seem to be excessively risky; there are also IIRC some rather odd tax implications.

EdInvestor

If he likes holding bank shares that pay good dividends he might like to consider cashing the Abbey shares in for the reasons Cheerful Cat mentions and buying some shares in LloydsTSB, which pays a divi of more than 6%