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Tesco Personal Finance

Alan_T_2
Alan_T_2 Posts: 101 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Savings & investments
I heard a rumour at work today regarding Tesco and their relationship with RBS. The jist of the rumour is that RBS are looking to end the joint venture with Tesco for Tesco Personal Finance.

Anyone heard anything similar?

Comments

  • dunstonh
    dunstonh Posts: 120,428 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    That was not the rumour exactly. The rumour was that Tesco is to buy out RBS Life and/or Direct Line. Tesco then intend to apply for their own banking licence and when approved will offer banking services themselves under Tesco Bank and not using a white label or 3rd party.Its been rumoured for some months that RBS was looking to sell Direct Line, Churchill and RBS Life to raise funds.

    However, it has been confirmed earlier today that Tesco is buying out RBS share in the Tesco personal finance for 1 billion.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • kooky_2
    kooky_2 Posts: 1 Newbie
    Hi there

    I work for TPF and nothing has been communicated to us. The management are telling us that its just speculation. I find that hard to believe as most broadsheets have reported it now. I'm jst concerned about what's going to happen to my job.:confused:
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