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Takeover rumours boost Bradford & Bingley

Posted on 23 September 2008

From Sharecast.com: Bradford & Bingley soared on weekend reports that UK authorities are trying to broker a takeover of the buy-to-let mortgage group. The Financial Service Authority is reportedly in talks with three foreign banks - Abbey’s Spanish owner Santander, Dutch banking group ING and National Australia Bank, which owns the Clydesdale and Yorkshire banks - according to the Sunday Telegraph.

However, the Times said that neither NAB nor Santander would be willing buyers for B&B, while ING’s interest is still unclear. Shares in B&B, which recently completed its £400m rights issue, rose by 17% in early dealings on Monday before settling around 10% higher. However, the group’s shares are still almost 90% down compared to 12 month ago….. Full Article: Source


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