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HBOS management threaten nationalisation if Lloyds TSB offer lapses

In a fairly blunt rebuke of the supposed alternative offers emerging from Scotland, the management of HBOS has suggested that if the Lloyds TSB deal does not go ahead then the group may have to be fully nationalised. This was always the threat from day one as the group was running dangerously low on finance hence the reason why Lloyds TSB stepped in with the announcement of a merger.



It has been revealed that the bank would need to raise more than £12 billion in additional finance if some reason the Lloyds TSB bid was to lapse or be delayed for a substantial period of time. This is the most potent rejection of any potential new offer for the bank and highlights the need for either Lloyds TSB or a government bailout to resurrect the situation. Time is running out for HBOS and the management of the company has been quick to warn shareholders of the consequence of dragging any potential rescue well into next year.



This is a call which will either make or break any new offer for the company and ensure that anybody interested in coming to the table is forced to show there hand now.

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