JPMorgan, the US banking giant that rescued Bear Stearns earlier this year, has held talks with several interested parties about forming a consortium to break up HBOS, the UK's biggest mortgage lender which includes the Halifax brand, The Telegraph reports.
JPMorgan is understood to have spoken to a large Australian bank, thought to be National Australia Bank (NAB). It has also approached private equity firms. Spain's Santander could also be approached, sources said. The model bears a resemblance to break-up bid for ABN Amro last year. JPMorgan could act as the adviser to the group, playing the same pivotal role as Merrill Lynch in the ABN deal. AFTER YEARS OF boom, official figures on the economy published today will show that growth has slumped to nearly zero, leaving the nation already in, or close to, recession, according The Inde...
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