Tuesday, November 11, 2008

HBOS takeover

Bank of China planning swoop for HBOS, reports say

Bank of China is the rival bidder said to be close to making an counter-offer for HBOS, the BBC has reported.The revelation follows news which emerged over the weekend that a foreign bank is considering making an offer for HBOS and is being advised by European American Capital (EAC), a London-based investment firm founded by Tim Goode - a former treasurer of RBS and ex-chief executive of treasury and capital markets at Halifax. European American Capital said it could not comment on the matter.

Posted by jack c @ 10:06 AM (1625 views)
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2 thoughts on “HBOS takeover

  • Jack C, how is your mate getting along with his 40 remortgages?

    As to a gradual take-over by the Chinese of Western banks, this has been on the cards for quite a while.

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  • @mark wadsworth – at present he’s not they are sat on his desk – he cant roll them over because despite the 1.5% BOE cut most lenders have yet to get off the fence and introduce a new range of competitive products – lots of brokers are of the opinion that its probably in the borrowers best interests at present to stay on the lenders SVR – time will tell if this changes. So just as EA’s are struggling to sell 1 house per week mortgage brokers are struggling to place new and or re-mortgages.

    Interesting that Citywire quote from BBC on this topic – this definitely was not a main business headline on BBC yesterday as I would have posted it up (although I did subsequently search and find it today following the Cotywire alert)

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