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Article: HBOS levels its guns against the Spanish armada.(Perspective)
- Article from:
- Money Marketing
- Article date:
- September 2, 2004
- Author:
CopyrightCOPYRIGHT 2004 Centaur Communications 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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A war of words is escalating between HBOS and Santander Central Hispano as both adopt stronger tactics in the battle for Abbey.
Although HBOS has not yet launched a formal bid for Abbey, it went on the offensive last week by lodging a protest with the European Commission, calling for an examination of the cross-holdings of Santander and Royal Bank of Scotland. The two have common directors and HBOS is thought to want clarification on whether Santander plans to outsource Abbey's back-office functions to RBS.
Not to be outdone, in an interview with Money Marketing, Santander director Juan Inciarte called on intermediaries to support his bank's bid for ...