Wednesday, Sep 17, 2008
Troubled mortgage giant HBOS has become the subject of speculation that it could merge with rival Lloyds TSB.
press association: HBOS 'could merge with Lloyds TSB'
HBOS 'could merge with Lloyds TSB'
4 hours ago
Troubled mortgage giant HBOS has become the subject of speculation that it could merge with rival Lloyds TSB.
Earlier, shares in the group plunged for a third day in a row amid funding fears, diving as much as 50%, but recovered to 7% down after the report from the BBC. The broadcaster said HBOS and Lloyds TSB were in "advanced" talks over a combination.
Asked about the discussions, an HBOS spokesman declined to comment.
now announced on bbc
Posted by malct @ 09:50 AM (826 views) Add Comment
10 Comments
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1. p. doff said...
Ah!. So that's why the shares have more than doubled in the last few minutes. Up from under a quid to over £2.
2. p. doff said...
Hang on - said 96p just now, then went back to 199p?????????
3. peter_2008 said...
It is swinging between -20% to +20% on hourly basis. If you can call the shot every time the moment the tide changes, you can make a few billion £££ by the end of the day. That's what speculators do...
4. Stevie Dee said...
Just a thought.. When Lloyds & HBOS merge. How many banks will shut, and how many jobs will be lost?
5. Will said...
Merger followed talks with Gordon Brown. Another bailout. Where does our Government find the money?
6. mountain goat said...
Halifax funding model is broken too.
``They have said they are confident they don't have any problems with funding, but it's not washing with investors,'' said Thomas Cropper, an analyst at Sanford C. Bernstein in London
7. techieman said...
So now i hope people can accept that the "in play" status of HBOS with all the well how could it fall 20% a few months ago if not for city boy type rumours were at best exaggerated. For Halifax to offer the 10% AER a few weeks back perhaps also indicated something? As for trading it....unless you are jack be nimble jack be quick id say dont.
At the time most people here were saying - typical of the city but a few (me included) were saying no smoke without fire. HMG were maybe not aware of the facts or perhaps we can all come up with a more cynical alternative? I think thats all gone very quiet though or did i miss something while i was tumbling off my mountain bike last week?
Re Last days comments yesterday - i didnt come back to the site until today - a bit busy :-). Anyway i think you generally misunderstood my comment. I never said that i was comfortable with where we are its just were we are, and rather than waiting for the revolution the pragmatic approach is to deal with it as is - if you are charging me with making the most of that situation and developing for my own gain then yes Guilty your honour. Have i been to Africa? Yes but i dont see the relevance.... I would say one thing to become a philanthropist you have to have something with which to philanth! Make of that what you will.
8. Fred56 said...
I reckon the crazy movements in HBOS are manipulation by the city boys in the 'know'. I've been watching anxously because I have a reasonably large deposit in an HBOS subsidiary. Just suppose the smart boys had wind of a potential take over of HBOS and kind of conspired to induce a lot of people to ditch their shares and others to short. They would then be able to nip back in a catch it on the rise again. Am I being cynical or realistic.
9. mountain goat said...
TM - "As for trading it....unless you are jack be nimble jack be quick id say dont. "
If Lloyds walks away it might be nationalised like NR and shareholders wiped out.
10. mark said...
this bank is in a poor state, it is so obvious, the same with ING.......