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MSE News: TSB to be taken over by Banco de Sabadell

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Comments

  • Archi_Bald
    Archi_Bald Posts: 9,681 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Malcnascar wrote: »
    Spanish banking, by and large, is not free.

    Santander UK have been paying me for the last 3+ years to have accounts with them. Their £2 monthly account charge doesn't matter as they pay me about £10 each month in DD cashback. Not to talk about the interest I can earn with them if I want to.

    This is not to say that TSB/Sabadell will go the same way. Nor do I think that the overall TSB strategy for the UK market will be replaced by the Sabadell strategy for Spain or other countries they operate in.
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    So will I be able to use my TSB card in their ATMs at no cost when this goes through?

    I would think so, in time.
  • One of our original small banks that has been "got at" again. Do the "rich clever people" ever look beyond greed and glory to consider our birthrights!

    Stated simply: Working folk work hard and invent 'em rich clever people sit on their boards and flog 'em! Soon we will only have dead horses to flog- but they don't take much inventing so carry on!
  • mgdavid
    mgdavid Posts: 6,710 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    One of our original small banks that has been "got at" again. Do the "rich clever people" ever look beyond greed and glory to consider our birthrights!

    Stated simply: Working folk work hard and invent 'em rich clever people sit on their boards and flog 'em! Soon we will only have dead horses to flog- but they don't take much inventing so carry on!

    I am always in wonderment at the mindset of people who go to the trouble of enrolling as a new user on a forum to write posts like this. I suppose it's electronic graffiti....
    :(
    The questions that get the best answers are the questions that give most detail....
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    At least it has not been taken over by the Americans.
  • nandrews
    nandrews Posts: 232 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    As one who bought into TSB at the IPO last year. I guess I am not alone in being concerned whether I will still receive the bonues shares (or cash equivalent) that was promised for the anniversary of the sale!
    I am told by my dealer that it is possible that if I agree to sell my shares (with the deadline in one week) I could lose out on the bonus shares value I would otherwise have recieved. They are waiting for a definition on this from the registrars, but it will be a close call whether the detail is known in time.
    Anyone else in the same boat - I imagine there are many.
    Nigel
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    Have Lloyds not said they will pay the bonus shares?
  • nandrews
    nandrews Posts: 232 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    I am not sure.
    Specifically my dealer said that if I agree to sell, but the offer does not become unconditional by the due date for the bonus shares then I will risk forfeiting them!
    They are asking the registrars for clarification.

    Nigel
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    Im quite sure Lloyds have said they will pay the bonus even if the deal dose not go ahead.
  • Paul_1977
    Paul_1977 Posts: 992 Forumite
    The sale has been completed, in July. TSB is now owned by Banco Sabadell.

    If you are a shareholder still, they will be squeezing you out soon.
    Banco Sabadell, after obtaining a number of tender acceptances that represented over 90% of the TSB shareholding for which the tender had been made, decided to exercise their right to the compulsory acquisition (or squeeze out) of the remaining shareholders in TSB that had not accepted the tender, under the same tender conditions, pursuant to English Companies Law, in this way acquiring 100% of the TSB shareholding.

    http://prensa.bancsabadell.com/en/News/2015/07/banco-sabadell-acquires-100-of-tsb-shares
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