HBOS vetoed Lighthouse deal for Network Data advisers

A source close to the deal, which would also have included some of Network Data's recurring revenue, told IFAonline the bank, understood to be the firm's chief creditor Halifax Bank of Scotland Corporate, is "waiting for a better offer". "I know teams on both sides worked very hard to try to get the advisers across but they just couldn't get past the bank," the spokesperson says. In a stock exchange announcement this afternoon, Lighthouse Group said it is discontinuing all discussions with the board of Network Data concerning the potential transaction. Latest reports suggest Network D...