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Virgin Money Not In Race For Lloyds Branches
Virgin Money has confirmed that it is not planning to bid for the 632 branches being sold by Lloyds Banking Group.
Virgin Moneyhas confirmed that it is not planning to bid for the 632 branches being sold byLloyds Banking Group,The Wall Street Journalreports. In July, the U.K. financial services firm decided not to submit a bid for the branches in a first round of bidding.
Lloyds received a first round of offers for its branches in July and has passed three bidders to the second round closing September 30. The bank is reviewing potential measures to restructure the transaction to make it more attractive to potential buyers
Click here for the story fromThe Wall Street Journal.