Monday, Jan 12, 2009
What a surprise!
BBC News: Lloyds HBOS merger gets go-ahead
The merger of banks Lloyds TSB and HBOS has been granted the final legal approval by a court in Edinburgh.
Following the decision by the Court of Session, the new Lloyds Banking Group is due to start trading from next week.
The announcement came after it was revealed that the Treasury is to own 43.4% of the merged bank after few shareholders bought new shares.
Posted by flintster1994 @ 05:18 PM (532 views) Add Comment
8 Comments
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1. paul said...
Whither the UK's the competition laws?
As we've seen over the last few months, there are quite a few laws in place which can be quickly roughshod ridden when its convenient for the government - you know, fundamental laws like the Freedom of Information and Anti-Competition.
2. paul said...
Of course, by virtue of this merger, Brown's 'punish the prudent' strategy has gone corporate.
If I was a senior figure at Nationwide, or any other building society mutual, I'd consider lobbying European Parliament to intervene.
3. Tyke said...
Now wait for the heavy job losses in West Yorkshire rather than at Bank of Scotland HQ so that Brown the Clown, Badger and co. will save their seats on the gravy train at Westminster.
4. crunchy said...
2. paul said........"Of course, by virtue of this merger, Brown's 'punish the prudent' strategy has gone corporate."
THAT'S THE WHOLE IDEA! paul said... "I'd consider lobbying European Parliament to intervene" LOL. that's not Land O L.
5. paul said...
Crunchy - the European Parliament is one of the few defenders of our freedom.
Do you know why it is illegal for the UK police to retain DNA samples from innocent members of the public?
Think about it.
6. crunchy said...
paul, I am not laughing at you, on the contary, but at your idealism.
It never seems to wane.
7. crunchy said...
Uncanny, 6 seconds after you paul. DNA? A small hurdle, as with all the others, it's only time.
8. crunchy said...
That reminds me to take my annual blood test!