Abbey National share price rose following a Sunday Times item over the weekend suggesting Banco Santander Central Hispano had resumed talks with Abbey which may lead to a merger. Abbey stated that there were no talks currently ongoing but would offer no further comment.
In late 2000 Bank of Scotland agreed a merger in principle with Abbey which was then disrupted by a hostile bid from Lloyds TSB leading to the whole matter going to the Competition Commission. By the time the Competition Commission had ruled out the Lloyds TSB bid as not in the interest of competition Bank of Scotland had hooked up with Halifax.
Abbey then went though a turbulent time with losses from its wholesale banking operations causing major problems. This has not stopped many rumours of possible buyers being floated including NAB.
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