UK banking mergers in doubt over regulatory delays

Wednesday 28 February 2001 at 16:00

Sources close to the Abbey National's merger talks are forecasting that the former building society is unlikely to conclude a deal with any big UK clearing bank, in the wake of Abbey's decision Wednesday to abandon merger talks with Bank of Scotland.

The two sides are waiting for the UK's Competition Commission to rule on Lloyds-TSB's £17.6bn (€27.6bn) bid for the former building society.