A tribunal will today hear a legal challenge to the merger of HBOS and Lloyds TSB from a group of customers and senior businessmen.
The Merger Action Group (MAG) has taken its case to the Competition Appeal Tribunal in hopes of blocking the deal.
MAG says it has the backing of current and former employees, account holders and senior Scottish businesspeople.
The MAG believes the deal will be bad for Scotland's economy and will create a huge banking group that could stifle competition across the UK.
A ruling on the case is due on Tuesday, and is likely to be the last word on the proposed deal.
The MAG's spokesman, Malcolm Fraser, says: "As a group, we are extremely concerned that due legal process has been ignored. In Scotland particularly, there is a widespread and growing unease about what has taken place.
"Given that taxpayers are ultimately funding the takeover, we are simply asking that the law is properly applied, and that our long-term interests are protected. We do not feel that is too much to ask."
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]IFAonline
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