HBOS silent on £10bn Abbey bid

BANKING group HBOS yesterday stayed silent on claims that its bosses will meet this week to finalise plans for a £10 billion bid for Abbey National.

The group refused to confirm a Sunday newspaper report that its board will gather to consider a study by its lawyers about whether regulators would allow a takeover of Abbey.

Although HBOS chief executive James Crosby believes Abbey represents the final opportunity to buy a large British bank, the decision about whether to make an offer is on a knife-edge, The Sunday Telegraph reported.