Summary
LLOYDS Banking Group was yesterday said to be in talks with investment banks over securing a pounds 20bn loan to help kick- start the sale of 600 branches. The support will plug a funding gap at those businesses Lloyds has been ordered to sell by the European Union as a condition of state aid.
Chief executive Antonio Horta-Osorio recently announced plans to accelerate the process and is reported to have told those investment banks pitching to work on the sell-off to come up with a loan of pounds 15bn to pounds 20bn.See the full content of this document
Extract
Lloyds Kick Starts Sale of 600 of Its Branches
The Sunday Times said the funding would clear the way for a bid from NBNK, a b...
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