The largest British mortgage lender Halifax Bank of Scotland (HBOS) confirmed on Wednesday that it is in “advanced merger talks” with major British bank Lloyds TSB.
There have been many rumors and špeculations in recent days about a possible merger between the two banks, with HBOS’s share value in London experiencing a sharp decline following the collapse of Lehman Brothers. HBOS is the largest British mortgage lender covering about 25 percent of the UK market, with 15 million šavers. If the merger proceeds, it will create the largest mortgage and šavings bank in Great Britain. (H)
