Abbey On the Climb As Bid Approach Talk Is Revived ; Market Report

Evening Standard - London › June 25, 2004

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Summary

MORTGAGE lender Abbey National led the top 100 companies higher today with a jump of 251/4p to 5121/4p as bid hopes were revived.

City speculators were working themselves into a lather on talk that Royal Bank of Scotland, down 7p at 1613p, was running its eye over the business with a view to making a bid. That is expected to ring the alarm bells at Spain's Santander Centro Hispano (SCH), which broke off takeover talks with Abbey, Britain's sixth-biggest High Street bank, in March.

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Abbey On the Climb As Bid Approach Talk Is Revived ; Market Report

RBS chief executive Fred Goodwin ruled out a bid for Abbey the following month, saying he would be concentrating on doing deals in the US. City s...

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