TSB is now officially Spanish
The deal was first announced in March but has today cleared its final regulatory hurdle. The Bank of England's Prudential Regulation Authority has rubber stamped the takeover.
The offer period is still open, meaning shareholders can agree to the deal if they haven't already, but Banco de Sabadell already has enough approvals to get the deal through.
It means TSB is now effectively Spanish. It's ironic considering that when TSB was spun out of Lloyds last year one of the British High Street bank's advertising campaigns read: "Welcome back to local banking," as you can see in the picture above. Looks like we'll have to say goodbye to it again.
TSB will be delisted from the London Stock Exchange on July 28.
- Thailand is now welcoming Indians with open arms, but are its drought-hit islands really prepared for a tourism influx?
- Muslims up, Hindus down: What’s the larger picture behind India’s religious population trends?
- Scooch over magic mushrooms, toad venom could be the next big psychedelic for depression and anxiety!
- TBO Tek IPO allotment – How to check allotment, GMP, listing date and more
- RBI likely to transfer ₹1 trillion to government in FY25
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market