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Article: Lloyds TSB poised to seal [pounds sterling]1.78bn New Zealand sell-off.
- Article from:
- The Evening Standard (London, England)
- Article date:
- October 21, 2003
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BILL CONDIE
BANKING group Lloyds TSB could finalise the [pounds sterling]1.78 billion sale of its New Zealand arm to Australia's ANZ this week, according to local reports.
ANZ is thought to be in final talks with Lloyds and the New Zealand regulators, who are anxious to protect depositors' rights as National Bank of New Zealand - the last bank not in Australian banks - cedes control across the Tasman.
The Australian bank is due to report full-year results on Friday, when some analysts predict it will release details of the acquisition.
ANZ today only acknowledged ongoing discussions. "We have reached no agreement of any nature ...