Business Services Industry
Banker, insurance provider Lloyds TSB may soon get takeover bid, analysts say.
Knight Ridder/Tribune Business News, December, 2004
By Helen Dunne, Financial Mail on Sunday, London Knight Ridder/Tribune Business News
Dec. 5--Lloyds TSB is holding talks with the Financial Services Authority to calculate how much capital its Scottish Widows life insurance arm needs to satisfy new accounting standards.
City analysts believe that Lloyds TSB, which is worth about 24 billion pounds, may be the subject of a takeover approach once the situation is resolved. That should be soon.
Abbey National cut payouts to 60,000 life insurance policyholders in July, but announced that it did not need to inject new capital into either its Scottish Mutual or Scottish Provident businesses. This followed discussions with the City watchdog.
Shortly afterwards, Spain's Banco Santander...
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