Lloyds 'prepared to spend pounds 3bn'

Lloyds 'prepared to spend pounds 3bn'

Lloyds Bank is rumoured to be on the acquisition trail, prepared to spend up to pounds 3bn to expand further in the UK financial services market. According to weekend press reports, it had approached Bradford & Bingley, the building society, but was rebuffed. The bank is advised by ING Barings, which is believed to be reviewing takeover options. The bank yesterday had no comment on the reports.

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