there are NO bidders for loys branches they have all withdrawn from bids

lloys to float a new bank .spliting lloys into two banks

Recovery,

bought a few more for the SIPP.

this company is run very badly talking to staff they are giving up hope
the ceo is a bloody joke along with the useless chairman.
remember the chairman stated many times what a wonderful job E DANIELS WAS DOING . it is time holders started to take action .glad i am not a holder of this disgracefully run company the board sdhould all go

half year results to be announced on 4th August, we shall see.......

loss of 2.2b but to get back to profit by 2013

-anker if your figure turns out to be anywhere near correct beware you are not accused of insider dealing.

Some of his price predictions have been way off the mark, so he needs to sack his insider contact!!!

Don't make me post the muppets again! :-)

harry . i am never far away . lloys is not out of the trees it still has a few more branches to fall throw till it its the ground. lloys now has a very poor CEO the only
thing he knows is cut jobs he needs to look at the useless board who said DANIELS was doing a great job .get rid of them and lloys might get back to profit by 2013

when you talk to branch staff it tells you all
how can any one in a bank advise cutomers to invest
there money when they do not have a clue about the company
they work for .

-anker so when are you going to leave Lloyds, what a load of drivel?

Lloyds Banking Group branch sale plan rocked as bidders disappear





James Quinn, 21:03, Saturday 23 July 2011

The proposed 2.5bn sale of 632 Lloyds Banking Group (LSE: LLOY.L - news) branches has been thrown into doubt after it emerged that only two formal bids have been filed.

The lack of bidders has led advisers to consider plans to demerge the business and float what would become the UK's seventh largest bank.

The Sunday Telegraph can reveal that only two bidders NBNK and Co-operative Financial Services filed formal bids ahead of the first deadline for the Project Verde assets.

Of those, the Co-op's bid was described by one source as "lacklustre", while another source questioned its viability following the announced exit on Friday of Co-op's chief executive Neville Richardson.

As a result, bankers at Citigroup (NYSE: C - news) and JP Morgan are now actively assessing plans to demerge Verde into a separate listed entity, handing shareholders equity in a "rump bank".

Lloyds is being forced to sell the assets which comprise the TSB (KOSDAQ: 045340.KQ - news) and Cheltenham & Gloucester brands, among others as part of a European competition ruling following Lloyds TSB's merger with HBOS at the height of the financial crisis. UK taxpayers own a 41pc stake in Lloyds, through UK Financial Investments, as a result of subsequent bail-outs.

The news will come as a blow to Antonio Horta-Osorio, Lloyds' new chief executive, who personally accelerated the disposal process shortly after taking the reins from Eric Daniels, his predecessor, on March 1.

Of the other potential buyers, Australia's NAB, tipped ahead of the deadline to be the frontrunner, reserved its position to make a bid at a later date, Clive Cowdery's Resolution expressed interest and the Nationwide building society sent a letter focused on remutualising the old TSB branches.

Virgin Money is understood to have written a letter to Lloyds asking for more detail about the sales process. It is thought that Virgin is more interested in bidding for Northern Rock.

An important factor that prevented some from making a bid was the 20-30bn funding gap the product of Verde's 64bn asset base set against 32bn of liabilities. Lloyds is believed to have told would-be bidders that this would fall to approximately 10bn within 18 months as customers repay mortgages contained in Verde.

Advisory banks Citigroup and JP Morgan had resolved to explain this gap, but one non-bidder said the wording in Verde's information memorandum on the issue was unclear about how this would happen.

It is understood Citigroup and JP Morgan are now exploring plans to demerge the business as the most viable option given the low level of interest from buyers.

Although a trade bidder might still be the preferred option, it is believed both the investment banks and Lloyds are concerned about the lack of interest in the branches. At one stage it was hoped the assets might fetch a price of up to 4bn.

Critics point out that any demerger most likely enacted through a one-for-one share split which would see taxpayers end up with a 41pc stake in the separately quoted Verde would take up to 18 months to put into operation, as the management team was only assembled in May.

Another option would be to postpone the sale altogether, given the ultimate deadline for the disposal to go ahead is not until November (Berlin: NBXB.BE - news) 2013. A Lloyds spokesman said: "A dual track process has always been part of how we've presented it to the market. We have received a number of credible bids."

look at my post 2427 correct again

has a long term tory voter .i can now not see who they are for it certainly is not investors or business.

the longer the sale is delayed the more profit LBG will make,- why the rush?
(apart to pre empt the forthcoming commission report, but that is pretty imminent anyway)

the uk should now have a vote to leave the EU .
it is destoying the western world

the UK will be bust by 2023 if the gov does not act to stop immigration.
if you have any large amount of money start to buy gold or move out of the uk .
those that are young enogh to move to AUS will have a better life better gov .
we the old have no chance .the real brits will in 20 years not have a country.
the goverments have destoyed the uk

So it's o.k. to stop people coming to this country, but it's acceptable to encourage people to emmigrate to Oz? The usual double standards again.