Lloyds Banking Group’s sale of more than 600 branches to the Co-operative Group has fallen through.
The Co-op – which pulled out of the £800m deal – said it was “not in the best interests of the Group’s members” at the present time.
“This decision reflects the impact of the current economic environment, the worsened outlook for economic growth and the increasing regulatory requirements on the financial services sector in general,” the company said in a statement.
It comes highlighted doubts about the takeover plans in February.
http://news.sky.com
Tags: 600 branches, Lloyds Banking Group's
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