Santander to increase bid for Abbey - papers 9th August

Worries about counter-bids from UK banks could spark a lengthy inquiry by the Competition Commission so Santander is now prepared to increase its offer towards £9bn to try and counter any possibility, suggests the Telegraph. This is in part because the share price climbed to 578p on Friday, way above Santander’s offer priced at 552p. THE GUARDIAN reports Lloyds TSB is now expected to make its move as has just appointed financial advisers, as the price is still substantially less than the £19bn it was prepared to pay three years ago. THE ISLAMIC BANK of Britain has finally been give...