Comment: Co-op’s deal with Lloyds looks shakier than ever
THE decision to force Lloyds and Royal Bank of Scotland to dispose of assets as a condition for taking taxpayers’ money at the height of the banking crisis is beginning to look like a flawed process.
RBS was left with 316 unwanted branches in October when Spanish rival Santander pulled the plug on a £1.6 billion deal. Those branches have been put back on the market.
On Friday, there were more questions about the Co-op’s acquisition of 632 branches of Lloyds, which is said to be pushing a flotation up the agenda because of worries that the deal may falter.
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Hide AdThe two parties insist they are making progress, but the agreement has never looked entirely convincing.