Co-Op to buy 632 Lloyds TSB bank branches

Hello

I see that the Co-Op is going to buy 632 Lloyds TSB bank branches.

http://www.bbc.co.uk/news/business-18898125

According to the BBC... "The price tag, of up to £750m, is much less
than the £1.5 billion that had originally been expected for the sale."

Is this a good thing for the country and, more
importantly, will account holders get Green Shield stamps?

All the best,
Nigel
Marketing consultant, speaker and author
The Marketing Compass
Small business marketing direction

Nigel Temple

nigeltemple-8153

Co-Op to buy 632 Lloyds TSB bank branches

Thank you William, you are well informed! I sometimes wonder how things like this affect small businesses. I imagine that confidence is a big factor.

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William Buist

WilliamBuist

Co-Op to buy 632 Lloyds TSB bank branches

The governments forced the sale on Lloyds TSB in the same way that the previous mob forced them to buy HBOS. The deal cost is almost irrelevant to LTSB, any prices is good for them because the government demands it, in their eyes it's a fire sale with only one interested party, not great for maximising value. The Markets reaction is neutral to slightly positive for Lloyds, and only slightly more positive for Coop. They got a good deal, but not a great one. Fair all round.

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