NBNK confirms bid to buy Lloyds branches
NBNK Investments has confirmed that is has made a bid to buy 632 Lloyds Banking Group branches.
Lloyds is being forced to sell the branches by the European Commission competition authorities.
It is thought that NBNK, who were co-founded by Lord Levene, chairman of insurer Lloyd's of London, has offered about £1.5bn to buy them. If the bid is successful, the bank could have a considerable presence on the high street.
Halifax, Cheltenham & Gloucester and Lloyds TSB outlets are included in the sale.
September 30, 2011
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