Home› Archived Forums› Politics
Options

TSB takeover

Dave1979Dave1979 Posts: 1,804
Forum Member
✭✭✭
in Politics #1
http://www.theguardian.com/business/2015/mar/12/tsb-shares-surge-after-takeover-approach-from-spanish-bank

What happened to bringing back local banking to the high street? They will be Spanish!

Comments

  • Options
    itscoldoutsideitscoldoutside Posts: 3,190
    Forum Member
    ✭✭✭
    #2
    I was shocked by this, its only existed for a few years not even that. On the plus side shares are up and lots of people have these.
  • Options
    MTUK1MTUK1 Posts: 20,077
    Forum Member
    ✭✭✭
    #3
    The board of TSB as well as Lloyds obviously think it's a good deal. They'd be letting their shareholders down if they didn't recommend a good deal.
  • Options
    itscoldoutsideitscoldoutside Posts: 3,190
    Forum Member
    ✭✭✭
    #4
    It is going ahead apparently, they better not start closing down branches, so much for local banking for Britain.
  • Options
    MTUK1MTUK1 Posts: 20,077
    Forum Member
    ✭✭✭
    #5
    itscoldoutside wrote: »
    It is going ahead apparently, they better not start closing down branches, so much for local banking for Britain.

    TSB doesn't have many branches compared to the others.
  • Options
    itscoldoutsideitscoldoutside Posts: 3,190
    Forum Member
    ✭✭✭
    #6
    MTUK1 wrote: »
    TSB doesn't have many branches compared to the others.

    650, Halifax has 800, not that much of a difference.
  • Options
    Brass Drag0nBrass Drag0n Posts: 5,046
    Forum Member
    ✭
    #7
    I thought the whole point of creating the TSB was to try and offer a return to "traditional" banking (what ever that may be)?

    If they just become the UK arm of some multinational, they are exactly the same as all the others.
  • Options
    itscoldoutsideitscoldoutside Posts: 3,190
    Forum Member
    ✭✭✭
    #8
    Brass Drag0n wrote: »
    I thought the whole point of creating the TSB was to try and offer a return to "traditional" banking (what ever that may be)?

    If they just become the UK arm of some multinational, they are exactly the same as all the others.

    Yes, but they did not expect a take over bid, this was a surprise for the bank apparently.
  • Options
    itscoldoutsideitscoldoutside Posts: 3,190
    Forum Member
    ✭✭✭
    #9
    This is going ahead providing its approved.
  • Options
    AnnsyreAnnsyre Posts: 109,504
    Forum Member
    ✭✭✭✭
    #10
    itscoldoutside wrote: »
    I was shocked by this, its only existed for a few years not even that. On the plus side shares are up and lots of people have these.

    I had a Trustee Savings Bank account donkeys' years ago.
  • Options
    niceguy1966niceguy1966 Posts: 29,560
    Forum Member
    ✭✭✭
    #11
    Another foreign company taking over a british company. It does make you wonder why other countries seem to hang on to their businesses better than we do. One whiff of a quick profit and the shares are shipped off overseas faster than you can say UKIP.
  • Options
    niceguy1966niceguy1966 Posts: 29,560
    Forum Member
    ✭✭✭
    #12
    Channel 4 19:05 tonight (Saturday).

    Selling Off Britain

    All about how British companies are being sold off for quick profits (at least that what the Radio Times says).
  • Options
    LostFoolLostFool Posts: 90,662
    Forum Member
    ✭✭✭
    #13
    niceguy1966 wrote: »
    Another foreign company taking over a british company. It does make you wonder why other countries seem to hang on to their businesses better than we do. One whiff of a quick profit and the shares are shipped off overseas faster than you can say UKIP.

    With the Spanish economy in such a mess it is no wonder that their banks are wanting to do business here.
  • Options
    BrokenArrowBrokenArrow Posts: 21,665
    Forum Member
    ✭✭✭
    #14
    Its called Foreign Direct Investment (FDI), its what happens when you run a persistent trade deficit.

    All those pound notes we used to pay for those imports sit in foreign banks and they have to be used for something, so they get used buying up British Assets, like TSB.

    So the next time you hear a politician spouting about all that wonderful foreign investment coming into the UK, you will know that the UK economy is going tits up.
Sign In or Register to comment.