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MBNA to be acquired by other UK banks or private equity firms
book12
Posts: 2,557 Forumite
in Credit cards
I've read a few news articles that MBNA will be aquired by one of the high street banks. Lloyds Banking Group, Barclays/Barclaycard, Santander UK, and HSBC are eyeing on the acquisition. As well as the high street banks, private equity firms are on it too.
Would be bad for MBNA employees as they will be made redundant, or be made to work for the new bank.
Looks like this deal is the equivalent of Barclaycard buying the Egg credit card company.
I was thinking that HSBC will acquire it though, as the other banks have a good selection on the types of credit cards, and a good market share. Barclaycard acquiring probably be blocked by the government as it will make them too big.
Which bank do you think will acquire MBNA?
Would be bad for MBNA employees as they will be made redundant, or be made to work for the new bank.
Looks like this deal is the equivalent of Barclaycard buying the Egg credit card company.
I was thinking that HSBC will acquire it though, as the other banks have a good selection on the types of credit cards, and a good market share. Barclaycard acquiring probably be blocked by the government as it will make them too big.
Which bank do you think will acquire MBNA?
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Comments
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No one seems to want it at the moment. General feeling is it's overpriced, and Brexit has put a few people off.0
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https://forums.moneysavingexpert.com/discussion/5471329
https://forums.moneysavingexpert.com/discussion/5502888
No further news to report since May 2016 it seems.I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com0 -
Candyapple wrote: »https://forums.moneysavingexpert.com/discussion/5471329
https://forums.moneysavingexpert.com/discussion/5502888
No further news to report since May 2016 it seems.
There are a few this month but saying HSBC is the latest bank that wants MBNA, and about job losses if the acquisition went ahead, etc... nothing about the actual acquisition as yet.0 -
I hope it isn't HSBC they're not exactly generous with their CC offers.0
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*If* HSBC did acquire MBNA then I'd bet they'd close my card seeing as I had financial difficulty with them in the past.It's not your credit score that counts, it's your credit history. Any replies are my own personal opinion and not a representation of my employer.0
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Not read the details - is this MBNA's UK credit card business, or the whole MBNA global shooting match?0
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It wouldnt surprise me if its a 50/50 purchase between Virgin and private Equity0
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And no reason for this speculative thread. The title makes it look like fact. A question mark would have helped ...Candyapple wrote: »https://forums.moneysavingexpert.com/discussion/5471329
https://forums.moneysavingexpert.com/discussion/5502888
No further news to report since May 2016 it seems.
No. MBNA is part of Bank of America.bengalknights wrote: »It wouldnt surprise me if its a 50/50 purchase between Virgin and private Equity
You may be referring to a Virgin card?0 -
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