Lloyds bank branch sale to Co-op falls through
Planned sale collapses.
Lloyds Banking Group will offer shares to the public after the planned sale of over 600 UK bank branches to the Co-op group fell through.
Here's the BBC:
The Co-op blamed the continued economic downturn and tougher regulatory environment imposed on banks.
Lloyds said it will now seek to sell the branches as a stand-alone bank through a stock market listing.
Lloyds' chief executive António Horta-Osório said: "We are disappointed that the Co-operative Group is unable to complete this transaction."