Banco Santander's bid for Abbey has passed another hurdle after European Commission competition comm...
Banco Santander’s bid for Abbey has passed another hurdle after European Commission competition commissioner Mario Monti said the deal was a good one on political grounds, says the FT Merging a Spanish bank with a UK one goes a long way towards helping create the elusive single market in financial services, the paper quotes Monti. However, the statement comes before any official announcement from the EC of its review of the bid, and competitor HBOS is said to be “furious” at the comments, which it says are “kin to a judge commenting on a case before it has been heard in court”. The F...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes