Royal London begins takeover talks

BRITAIN'S largest mutual life and pensions company Royal London has started new talks to take over Royal Liver, the 160-year-old friendly society.

The two mutuals held talks in 2007 but ended discussions just a few months later after Royal Liver, which specialises in life assurance, said its interests would be better served with an independent strategy.

Royal Liver has since held tie-up talks with local rival Liverpool Victoria, which rebranded as LV. It is understood those negotiations had recently broken down, prompting Royal Liver chairman David Woods to seek a different buyer.