Abbey shares soar on rumours of NAB merger

Rumours are circulating today that National Australia Bank has appointed investment bank Goldman Sachs to lead a bid for Abbey National Group following the UK company's share price slump since last month's massive profits warning. NAB is believed to be preparing a duel listing that would enable both companies to retain domestic tax advantages, much like last year's merger between Australian miner BHP and its UK equivalent Billiton. NAB already operates in 15 countries, including the UK, where it owns the Clydesdale, Yorkshire, and Northern banks. But it needs to get mor...