Abbey directors face shareholders

Directors of banking giant Abbey National faced a barrage of criticism yesterday from shareholders angry at the decision to sell out to Spain’s largest bank.

Investors jeered and heckled Abbey chairman Lord Burns as they questioned the €13bn acquisition by Santander Central Hispano (SCH).

In a fraught and lively meeting to approve the deal, members of the 800-strong audience applauded the suggestion that they should vote against the purchase.

Shareholder Richard Pout asked: “If you can’t communicate between London, Milton Keynes, Sheffield and Stockton, how are you going to deal with management in Spain?”

More in this section

Puzzles logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day.

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up