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Coventry BS bids for the Co-op Bank
gt94sss2
Posts: 6,300 Forumite
One of Britain's biggest building societies has tabled a surprise takeover bid for the Co-operative Bank – a deal that would effectively remutualise one of the country's most recognisable high street lenders.
https://news.sky.com/story/coventry-building-society-tables-bid-to-remutualise-co-operative-bank-13024020
https://news.sky.com/story/coventry-building-society-tables-bid-to-remutualise-co-operative-bank-13024020
9
Comments
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Wow! That's come out of the blue. Co-op are in desperate need of improvement. It will be interesting to see whether Coventry can achieve that.0
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wonder if Coventry is planning to go back into the current account business !1
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It must be going cheap if a building society is interested. I wonder what the branch overlap is?1
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Can't wait till Coventry/Co-op launch a switch so I can dump Barclays2
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IT integration projects in the banking sector are famously expensive and prone to failure. I wouldn't be surprised if it played it safe and 'did a Virgin Money' i.e. it could rebrand Co-op as Coventry but continue to run separate systems with separate logins.MikeJXE said:
Yeah wowboingy said:Wow! That's come out of the blue. Co-op are in desperate need of improvement. It will be interesting to see whether Coventry can achieve that.
I have both Coventry and Co-op accounts so how would this news affect them ?9 -
Co-op has also just brought their Platform mortgage are back under the Co-op banner.
Letter received today.Life in the slow lane0 -
Anything for the carpet baggers?0
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Unlikely. The concept is the mutual taking over the bank, not the other way round.Cashmygiro said:Anything for the carpet baggers?1
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