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Article: A quiet deal that could Rock Tesco's resolve [Edition 2]
- Article from:
- The Evening Standard (London, England)
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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LET'S take Tesco at its word: it has zero interest in buying the
bit of Northern Rock we've come to know as the "good bank".
In the Guardian just the other day, finance director Andy
Higginson dismissed such a deal as entirely unnecessary.
"We have a great brand and a great relationship with our
customers. They are selling customers and a franchise. We do not
need their customers or the brand," he said.
That makes sense on the face of it, but governments can be
awfully persuasive.
If, when the time comes, the Treasury and its advisers don't like
the look of the other bidders -- or discover that after a lot of
talk there aren't any -- they could easily find ways to bend Tesco's
ear.
Tesco is ...