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HBOS takeover: Taxpayer to own nearly half of super-bank
Taxpayers are set to own almost half of the "super-bank" created from Lloyds TSB's rescue takeover of HBOS, the two banks have confirmed.
The offer of 13 billion in new shares from the duo to strengthen their finances was all but snubbed by existing investors - leaving the Treasury to buy them up.
This will leave the taxpayer owning around 43.4 per cent of the new Lloyds Banking Group.
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Weather for Halifax
Saturday 11 February 2012
Today
Sunny spells
Temperature: -1 C to 0 C
Wind Speed: 8 mph
Wind direction: South west
Tomorrow
Cloudy
Temperature: 2 C to 4 C
Wind Speed: 9 mph
Wind direction: North west
