Lloyds Bank and HBOS merger cleared after competition law change
While we have received confirmation that the change in competition laws required to allow the Lloyds Bank and HBOS merger to proceed has passed to the statute books there is still much confusion and debate as to whether the move will actually be completed. A growing movement is appearing in Scotland, some would say after the hard work of the refinancing has been done, and there are calls for an enquiry.
If ever Lloyds Bank was looking at an escape route from the merger then it has been presented with any number over the last few days. If the economy is to move lower we may actually see Lloyds Bank walk away from the deal and concentrate on its core business, leaving the Scottish government to pick up the pieces. However, the only thing wrong with this is the fact that the Scottish authorities are actually powerless to act and save the bank!
The constant sniping and criticism of Lloyds Bank is now become boring with many forgetting that HBOS would be in the hands of an administrator by now if Lloyds had not stepped in at the last minute. Quite where this farce is going to end is anyone's guess!
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