Banking venture NBNK has said that trading in its shares will be suspended until takeover talks with an unnamed bank are concluded. NBNK, set up last year to establish a new High Street banking presence, has been linked with a takeover of the Clydesdale and Yorkshire banks. The venture is also reportedly looking at buying a substantial number of Lloyds Banking Group branches. It has received billions of pounds of backing from institutional investors.

"In view of the size of the operations NBNK is seeking to acquire... and the level of press speculation concerning possible acquisitions, trading in the company's shares will now be suspended until such time as an admission document is published in relation to an acquisition or the talks otherwise conclude," NBNK said in a short statement. It added that "there can be no certainty that a transaction will be forthcoming". Clydesdale, with about 150 branches, is one of Scotland's largest banks, while Yorkshire has about 180 branches in the north of England and the...Read more on todays story----> BBC News - High Street banking venture NBNK in