What does the HBOS takeover mean?

Earlier this week Lloyds TSB, the high street banking giant, announced that it was taking over HBOS in a £12.2 billion rescue operation. The takeover has been rushed through, and officials have said that the government has all but ripped up the rule book with regards to competition so that the takeover could go ahead. Alistair Darling stated: ‘We have made a decision that we will waive the competition requirements in relation to these two banks. That is not going to get revisited,’ Read more

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