Lloyds’ failure to tie up a deal with the Co-operative Group for its Project Verde portfolio has unsettled City sentiment.
Lloyds’ shares fell 3.6% to 30.8p as fears mounted that the £1.4bn preferred deal for the 630 bank branches could collapse. Cavendish Asset Management said the government would be left with “a tricky situation” if that happened. The branches have to be sold by 2013 to meet one of the requirements of the government’s bailout of the business.
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