Financials
Lloyds TSB jumps on takeover rumours
Wednesday, 1 February 2006Lloyds TSB, Britain's fifth biggest bank, saw its share price surge by more than 6% today on mounting speculation it could soon face a takeover bid, possibly from Spanish rival BBVA.
One anonymous London-based dealer said that 'people are piling in, scared of missing the next takeover. 'There is talk of either BBVA or a large US bank making a bid at around 700 pence per share and with so many of these rumours coming true in the past few weeks, no-one is playing this one down,' he added.
BBVA, Spain's second biggest bank, declined to comment in Madrid.
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In late 2004, Spain's biggest bank Santander Central Hispano (SCH) bought British rival Abbey for £8.5 billion sterling.
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