Bank merger causes Footsie concern

The merger of Lloyds TSB and Abbey National caused some concern in trading on the Footsie this morning. UK stocks fell, slipping 14.4 points to 5936.2. Analysts say a decision by UK regulators on whether to let Lloyds TSB buy Abbey National Plc will define the terms for mergers and acquisitions throughout British banking. Lloyds TSB fell 12.5p to 735. Abbey National dropped 35 to 1,260. Lloyds TSB is trying to acquire Abbey National for 19.7 billion pounds to create a bank that controls almost 30% of UK checking accounts and the biggest share of mortgages. Regulators said the plan ...