• From This is Money:

    While some issues have been settled, many pressing questions remain. Financial Mail explores the consequences for the millions of customers of the massive new conglomerate.
    Is this a done deal?
    The deal will take three to four months to conclude. HBOS shareholders will be asked to vote on the merger and there are rumbles that some big institutional shareholders are not happy. They feel HBOS directors ‘ bottled it’ and could have tried harder to stay independent.
    That sentiment may be shared by many of HBOS’s 2m small shareholders, who have seen the value of their shares plummet in the past 18 months.
    However, with financial markets shaken by a brutal week, there appear to be few alternatives for HBOS at the moment.
    What will happen to Lloyds and Halifax branches?
    Culling bank branches is a core part of Lloyds TSB’s plan to save £1bn a year in running costs through the merger.
    Lloyds already has the biggest branch network of any UK bank, with 1,900 branches. Merging…

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    Posted by Jon @ 9:02 am

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