HBOS shares boosted by takeover rumours

Shares in HBOS are up over 10% at 290.5p as traders believe an offer is about to be made for one of the UK’s largest banking groups. Earlier this week, HBOS’s investors snubbed its £4bn rights issue, with just 8% of new shares bought by existing investors. As a result, underwriters were forced to foot the bill for the remaining shares. If an offer is made it will be the second attempted takeover by a Spanish bank in a fortnight, following Santander’s approach for Alliance & Leicester. Both banks have declined to comment on the rumours. If you would like to comment on this story, contact...