.15:32, Sunday 9 October 2011

LONDON (Reuters) - Hugh Osmond's Sun Capital Partners has pulled out of the race to buy 632 Lloyds branches, raising doubts that the assets will fetch as much as the bank wanted, the Sunday Telegraph reported.

The newspaper said it understood Sun Capital Partners was "unlikely" to enter a second-round bid for the branches, which Lloyds has been ordered to sell by European regulators after the bank was rescued by the British taxpayer.

It quoted one source with knowledge of Sun Capital's position saying a bid "made no sense at the moment", in reference to the current state of capital markets.

New British bank venture NBNK confirmed last month it had submitted a second-round bid, said to be worth 1.5 billion pounds, for the branches.

Co-operative Financial Services was also still in the running, it said last month, although it had not yet submitted a second-round bid.

Analysts had previously said the branches could fetch about 2.5 billion pounds.

The Sunday Telegraph said Osmond could still re-enter the race at a later stage, as could NAB and Virgin Money.

Lloyds declined to comment on the report, while a spokesman for Osmond was not immediately available for comment.

..Osmond concerned by Lloyds branch bid costs - source

17:28, Sunday 9 October 2011

LONDON (Reuters) - Hugh Osmond's Sun Capital Partners remains in talks over buying some 630 Lloyds retail bank branches, although Sun Capital has concerns over the costs of a bid, said a source with knowledge of the matter.

"We remain in dialogue, but there is the issue of costs, which is more than Lloyds' internal estimate," said the source, who declined to be identified.

The Sunday Telegraph had earlier reported that Sun Capital had withdrawn from the race to buy the branches.

The newspaper said it understood Sun Capital was "unlikely" to enter a second-round bid for the branches, which Lloyds has been ordered to sell by European regulators after the bank was rescued by the British taxpayer.

New British bank venture NBNK confirmed last month that it had submitted a second-round bid, said to be worth 1.5 billion pounds ($2.3 billion), for the branches.

crikey - this (branch sales) still dragging on lol

opportunities on the banking front next week in the form of easy cash - looking fwd to it - barcs should perform the best overall - yeeeeeeeeeehaaaaaaaaaa !!! gla

hc didnt realise you were in large lloy - good luck
dependent on your avg will come good in time imo

will be back home tomorrow .
why are lloys selling these branches now that all the EU banks are getting gov money . answers if you no

the reason for the branch sales was because they took gov money so what happens to all the EU banks .the EU should now withdraw that sale notice

am interested to know what the consensus is on this LLOY thread - long or short? time frame?

Long, but 12 months projection. Tradeable between then & now. Until divi is re-instated, the fund managers won't be that interested.

Very long

Very very very long with a lot of shorts in between. But really depends on where you get in and where you would like to get out!

having read the ICB report if it took him that long to make that report
no wonder these kids leaving uni are unemployable .
oxford is going down the pan toilet .
the degrees they are giving out are WORTHLESS

Thanks guys. Have been trading these since August - buying at 30-31p selling at 35p 3 times - out now but looking for right entry price again.

Latest from Morgan Stanley:

Lloyds Banking Group
Meeting with Director of
Wealth & Retail Products
Key meeting takeaways: progress is being made on
retail deposit gathering and Ireland loan losses, but
net interest margins remains under pressure. We
are ~10% below consensus on lower revenues for
2013e EPS and see dividends as unlikely near term,
so we prefer HSBC (OW) on better funding profile.

They have a target of 46p.

British Banks Struck By Rating Downgrade
Sky News 2011, 14:45, Thursday 13 October 2011

The ratings agency Fitch has delivered more grim news for Britain's banks after downgrading the taxpayer-backed lenders Lloyds Banking Group (LSE: LLOY.L - news) and Royal Bank of Scotland (LSE: RBS.L - news)

have bought 4 lots this morning and they have shown as sells .
total 180000.

lloys on target .

Dale farm kicking off.

the are NOT travellors they LAZY SCUM who want ever one else to pay .
if they break the law jail them.

the scum bags at dale farm are worse than the rioters they shoul be jailed for 3 years

Good riddance to bad rubbish these scumbags expect us to pay for their lifestyle.