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Government must give fair wind to latest HBOS developments
November 11, 2008 11:03 AM
Originally published by Scottish Liberal Democrats
Originally published by Scottish Liberal Democrats
Leader of the Liberal Democrats in Scotland Tavish Scott has welcomed the news that the former Chief Executives of Bank of Scotland and Royal Bank of Scotland have written to HBOS opposing the merger with Lloyds TSB.
In their letter, Sir George Mathewson and Sir Peter Burt say that HBOS and its shareholders would be better off if the bank were to remain independent. They also outline their intentions to submit a detailed alternative plan to the takeover.
Commenting, Mr Scott said:
"This very important development must be given fair wind by the UK Government.
"HBOS' Non-Executive Directors also need to get actively involved with the emerging alternative to the Lloyds TSB takeover.
"My interest is in retaining Scottish banking jobs, Headquarter functions and competition for customers and small businesses.
"Today's developments bring meeting that objective closer."
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