B&B rejects resolution plan

Bradford & Bingley today said it rejected plans put forward by investment group Resolution to pump £400m (€505m) into the embattled UK mortgage lender.

B&B rejects resolution plan
Tue, 24 Jun, 2008 - 11:38

Bradford & Bingley today said it rejected plans put forward by investment group Resolution to pump £400m (€505m) into the embattled UK mortgage lender.

The plan would replace B&B’s current fundraising and form part of a £2bn (€2.5m) move by Resolution to snap up smaller banks, and merge them with B&B.

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CourtsBusinessHeathrowPlace: UKPerson: Clive CowderyOrganisation: B&BOrganisation: Bradford & BingleyOrganisation: B&B.Organisation: Texas Pacific GroupOrganisation: Standard LifeOrganisation: & GeneralOrganisation: TPGOrganisation: ResolutionOrganisation: Pearl
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