Is Resolution Group Back Around The Bradford And Bingley Table?
Bradford and Bingley shares have soared this morning with rumours that the company may well be back in talks with Resolution Group. There is a growing feeling that shareholders may well vote against the earlier TPG deal and fund raising which would give TPG a 23% stake in the enlarged group. While Bradford and Bingley has yet to make any official comment on the rumours there is a growing feeling that things are going on behind the scenes.
It seems as though support is building for Clive Cowdery’s Resolution Group and the plans to use Bradford and Bingley as a base for a much larger financial operation. There are a number of smaller players in the UK market that could possibly fit together without catching the eye of the regulator. When you add the market capitalisation of the likes of Bradford and Bingley, Alliance and Leicester and Northern Rock they do not even come anywhere near the size of rivals such as Barclays, Lloyds TBS or RBS.
The UK banking sector looks as though it may be on the verge of a major shakeup over the coming months, with Resolution Group looking to lead the way.
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