Taylor Wimpey is set to strike a compromise deal with its banks this week to buy it time to negotiate its £1.9bn debt mountain.
Shares in the largest housebuilder in the UK stood at 12.75p on Friday, valuing it at just over £134m. The shares got a boost last week after a memo from the company’s chief executive Peter Redfern was reportedly leaked.
The memo said the company was enjoying productive negotiations with the banks and he was confident a solution would be reached.
22/12/08 Times 38
Daily Telegraph B4
