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.

harry you are wrong aus wants people with money and who will work to go to aus
that is different . in the uk we only get beggars wanting to live of hand outs .
wus has a gov that will not put up with beggars

harry a few facts for you .

poles and other immigrants once they get council houses
never bother to get a job this is not fiction do your reseach before repling
i have done mine that is what i do .
it is a disgrace that our last gov labour allowed this to happen
and they are breeding fast avge of 2 children since they came here over the last 4 years

polish population has fallen by 2,3m in the last 4 years .only there idle have left poland

Research eh? In Norfolk virtually the entire workforce who harvest salads, asparagus etc are foreign (mainly eastern bloc) workers who grind in the hours for basic wages. Might be something to do with lazy, benefit scrounging brits who don't want to work.....You just see what you want to see Tanker. Blinkered rubbish.

harry i live in the country side all my life and it is not hard work .
and it not that the brits will not do the work they wil not get a chance
has the contracts are bought my immigrants and bring in there own labour
the uni people did do it every year till farmers wanted to sit back and let some one else take the decisions and they sat back and played golf .
and yes i live with these farmers they are now not farmers just managers
the local youths have been locked out .
get your facts right . also on the border of shropshire and stafford the farms have large amounts of caravans full of works not paying any taxes or council tax .

yes,
Treating the patients from all EU and other countries by NHS is also a critical issue.
An student can come to this country and get cancer treatment for his wife (100K) and pay teh fees for a year and defult next year and leave.

They spend 20-25K and get all the benefits, free teatment for constly diseases.

What do you think. I tried to inform Gordon Brown and then MRRR Cameron, none responded to me!!!!

The cost to NHS is 100s of millions. Consider Aids, cancer, trasplants, etc...

BUT they are happy to cut many staff to save 1m.

ahoj. did you no that immigration has cost the uk 44billion over thelast 4 years .
all people working for the gov are to scared to open there mouths fact .
and it has destoyed the country . i do not agree with the lunatic in norway but he was not wrong in the way he thought about whaty was happening to is country .
and it all down to the lunatics on the left .but in a few more years there is going to be big problems and that is fact crime will be 1000 times worse than it is now .

Human wright is changing to criminal right in some countries. I am immigrant myself, but I work hard, pay tax and I earn more than I am paid for my institution.

I am not against immigration, but it should be logical. Canada and Australia are doing it much better.

I wonder why my children at university should pay for prescription, dental treatment etc while most overseas students claim that they are poor (no way of assessing their income) and get free treatment in the country? Why their dependants can get these free.

I think in this courtry, like Germany and many other EU countries, any immigrants should have private insurance. Even people from the EU should be chanrged for ttreatment, in the same way that we are being charget in those countries.

They should set the system right, rather than acting based on distorted information. Visa should be issued to those who are genuinly coming to study. For instance one of the conditions can include private insurance for all dependants. I beleive UK will make profit, rather than loosing money and reputation , by doing this.