HBOS says regulatory issues would present a “real difficulty” for any UK bank wanting to counterbid for Abbey National.
James Crosby, chief executive of HBOS, said it was unlikely a British bank would bid for Abbey to deliberately destabilise the offer from Santander Central Hispano because such a move would trigger a six-month Competition Commission inquiry.
The Financial Times says further consolidation of the UK banking industry might be unlikely even though many institutions are generating plenty of money.
The Times says analysts think the bid for Abbey could prompt Citigroup to take a renewed look at Barclays.
References: Financial Times 29/07/04 Page 15, page 19, page 20 (Lombard), The Times (Compact) 29/07/04 page 47, page 58 (Larger Capitalisation Shares), The Daily Telegraph 29/07/04 page 32, page 34 (City Comment,
