Lloyds and HBOS in merger talks

In Hungary

Lloyds TSB is in merger talks with the country’s biggest mortgage lender HBOS, a person familiar with the matter said on Wednesday.

News of the talks surfaced after HBOS shares were battered for a sixth consecutive day amid mounting fears about its funding position as the credit crunch has raised the cost of borrowing. The news sparked a rally in its shares. The source declined to provide details on the stage or details of the talks. Lloyds and HBOS declined to comment.

The BBC said the two banks were in “advanced” talks and under the deal HBOS shares would be valued at nearer to last week’s closing price of 300 pence than their current level. By 9:50 a.m. HBOS shares were up 6% at 191 pence, valuing the bank at £10 billion, after slumping over 50% earlier to trade at 88p. Lloyds shares were up 5.5% at 295p, valuing it almost £17 billion ($30 billion). (Reuters)

Farmgate Prices Fall 25.4% in February Crops

Farmgate Prices Fall 25.4% in February

Cabinet Approves Farmer Support Measures Government

Cabinet Approves Farmer Support Measures

Szeged Muni Council Clears Road to Service BYD Plant Automotive

Szeged Muni Council Clears Road to Service BYD Plant

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.