Business Services Industry
Daily Mail, London, Alex Brummer Column.
Knight Ridder/Tribune Business News, July, 2001
By Alex Brummer, Daily Mail, London Knight Ridder/Tribune Business News
Jul. 11--EUROPE IS LLOYDS LARGER GOAL: Lloyds TSB and Abbey National are struggling to put the best face on the decision by the government to block the proposed banking merger.
But while the outcome can be construed as a victory for the consumer it is going to require some hard thinking in the boardrooms of both companies and across the banking sector.
At Lloyds TSB Peter Ellwood's "opportunistic" bid for Abbey has turned to dust. An Abbey takeover was never going to be a transforming deal but it would have allowed Lloyds to do what it has done best over the last decade - consolidate and cut costs within the British financial services industry.
The competition...
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