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Sterling has today picked up sharply after weeks and weeks of pressure and selling by investors. This comes just ahead of the MPC meeting to decide their next move on UK base rates and until just a...
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Thursday 6th November 2008
As the Scottish government continue to cause problems for the Lloyds TSB bank and HBOS merger this has attracted a furious response from HBOS which is accusing the Scottish government of using the company as a political pawn. Members of the Scottish parliament have been very vocal in their opinion that one or more alternative bids will appear over the next couple of weeks and this has a serious chance of derailing the Lloyds TSB offer.
Despite these rumours of rival offers nothing has been put on the table as yet and no names have been put forward, leading to the intervention of the takeover panel earlier this week. The SNP has flip-flopped its opinion on the deal from day one, from highly supportive, to trying to retain jobs in Scotland and now dead set against the merger. This at a time when the authorities in Scotland have been in talks with Lloyds TSB about saving jobs in the country, yet trying to stab Lloyd's in the back in private.
While we have mentioned this on numerous occasions there is a real concern that Lloyds TSB will at some point say enough is enough and walk away from the deal leaving HBOS literally high and dry and in severe danger of going under. |
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