Who will buy LLoyds and Northern Rock

Chadsman

Virgin Money rumoured to be the front runner for NR
according to http://www.yourmortgage.co.uk/news/3627634

Chadsman

From the Torygraph

Lloyds takes three suitors for branches through to the next stage of bidding

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8713698/Lloyds-takes-three-suitors-for-branches-through-to-next-stage-of-bidding.html

Chadsman

LLoyds will not be forced to sell more than the 632 branches already identified according to the Indie...

http://www.independent.co.uk/news/business/news/lloyds-banking-group-will-not-lose-more-branches-2353360.html

...but This Is Money says more Lloyds customers could be sold to create new challnger bank...

http://www.thisismoney.co.uk/money/saving/article-2036484/More-Lloyds-customers-sold-create-new-challenger-bank.html

Chadsman

Virgin poised to enter 2nd round of bids for Lloyds...

http://www.nebusiness.co.uk/business-news/latest-business-news/2011/09/12/virgin-money-poised-to-enter-next-sales-round-51140-29403965/

Chadsman

Lloyds branch buyers to cut loan book size...

http://uk.news.yahoo.com/lloyds-branch-bidders-cut-loan-book-size-sources-112811497.html

Chadsman

From the Telegraph

Richard Branson's Virgin Money in talks with China Investment Corporation over backing for Northern Rock bid

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8777857/Richard-Bransons-Virgin-Money-in-talks-with-China-Investment-Corporation-over-backing-for-Northern-Rock-bid.html

and also from The Torygraph

University pension fund backs Virgin bid for Northern Rock

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8738549/University-pension-fund-backs-Virgin-bid-for-Northern-Rock.html

Chadsman

Co-op: We are the only credible Lloyds' bidder http://www.moneymarketing.co.uk/regulation/co-op-we-are-the-only-credible-lloyds-bidder/1038169.article

IMHO they will need to propose making the business a lot more competitive than the current offering from the CoOp before they become credible.

Chadsman

Various peoples take on NBNKs bid submission...

http://www.nebusiness.co.uk/business-news/latest-business-news/2011/09/30/ex-northern-rock-boss-bids-for-bank-branches-51140-29512505/

http://www.thisismoney.co.uk/money/markets/article-2042996/Shake-Cheltenham--Gloucester-TSB-vanish-High-Street.html

http://business.scotsman.com/business/39Newcomer39-in-15bn-Lloyds-bid.6844384.jp

http://www.independent.co.uk/news/business/news/lloyds-gives-rivals-time-to-counter-nbnks-bid-for-branches-2362602.html

Chadsman

meanwhile

NAB rejects £2bn takeover offer for Yorkshire and Clydesdale

from Sun Capital who had been rumoured to be planning to takeover Yorkshire & Clydesdale banks as a launchpad for their Lloyds bid.

http://www.yorkshirepost.co.uk/business/business-news/nab_rejects_2bn_takeover_offer_for_yorkshire_and_clydesdale_1_3814351

http://business.scotsman.com/business/Hugh-Osmond-fails-in-2bn.6843719.jp

...but they are allegedly talking to NBNK
http://www.pressandjournal.co.uk/Article.aspx/2425315

Chadsman

Robert Peston musing on NBNKs bid http://www.bbc.co.uk/news/business-15088243 I get the impression he thinks NBNK are the current front runner as they have made more progress towards securing funding to back the bid.
...but here http://www.bbc.co.uk/news/business-15123855 he says why CoOp may be the front runner as they already have an established bank so would need to hold less capital- but NBNK may also acquire advanced status.

pqrdef

If NBNK or Sun get the deal, it's only a matter of time before they get swallowed up by a big foreign bank.