From The BBC:
Shares in Bradford & Bingley (B&B) climbed strongly in early trading on Monday, amid reports that it could be the next bank in line for a takeover.
Several reports suggested that the Financial Services Authority (FSA) has been holding talks with potential buyers, should B&B hit difficulties.
However, The Times said there was no firm interest so far, despite the overtures of the City watchdog.
The HBOS takeover by Lloyds TSB was given FSA and Treasury encouragement.
B&B shares were up as much as 10%, but ended the day 1.7% higher at 28.25 pence.
Royal Bank of Scotland shares were also up- which analysts said was on the back of plans for the US Treasury to create a ‘super-bank’ to buy mortgage-related debts from financial institutions.
Banks eligible to dump their toxic investments into this Treasury-backed bank would include RBS, which has a big retail business in the US.
‘Bad sign’
According to the Sunday Telegraph, the FSA has been in contact with Abbey’s Spanish owner Santa…
Leave a Reply