Abbey vows turnaround after rejecting takeover

Troubled mortgage bank Abbey National today pledged to focus on turning around its business after seeing off a £10bn merger bid from Bank of Ireland.

Abbey vows turnaround after rejecting takeover
Fri, 18 Oct, 2002 - 18:35

Troubled mortgage bank Abbey National today pledged to focus on turning around its business after seeing off a £10bn merger bid from Bank of Ireland.

The Irish bank dropped its plans to merge with Abbey after being rejected by the UK bank.

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CourtsHeathrowPlace: YorkshirePlace: UKPerson: Luqman ArnoldPerson: ArnoldPerson: Ian HarleyPerson: Lord BurnsOrganisation: AbbeyOrganisation: Abbey NationalOrganisation: Bank of IrelandOrganisation: London Stock ExchangeOrganisation: UBSOrganisation: Banque ParibasOrganisation: Credit Suisse First BostonOrganisation: National Australia BankOrganisation: Lloyds TSBOrganisation: Bank of Scotland
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