Tweet
The Co-op Bank says it has received a number of takeover approaches from potential bidders.
The lender said it had received "a number of non-binding proposals", and it had selected "several parties" with which to continue talks. The bank, in which the Co-operative Group still has a small stake, was rescued from the brink of collapse by a group of hedge funds in 2013. Last month, it reported its fifth annual loss in a row. On Thursday, the Co-op Group declared the bank worthless, cutting the value of its stake in the lender to zero. The write-down of its stake in the bank pushed the Co-op Group into a pre-tax loss of £132m for 2016.....Read more here
- Hi & Welcome to the AAD Consumer Forum
We're a FREE consumer debt and legal forum offering help, support and debate in many areas of day-to-day life. You will need to Register a Free Account before you can join in with the discussion and contribute with your own posts. Remember to also check out the FAQ's so you can get to grips with how the forum works ready to start posting your new topics. Read about the new GDPR 2018 Rules and how it affects you as a member of AAD.