Bradford & Bingley to be nationalised

Struggling UK mortgage lender Bradford & Bingley is to be nationalised, the British government confirmed today.

Bradford & Bingley to be nationalised
Mon, 29 Sep, 2008 - 09:09

Struggling UK mortgage lender Bradford & Bingley is to be nationalised, the British government confirmed today.

But B&B’s savings and branch business – which has £20bn (€25bn) in deposits and 2.7 million customers – will be bought for £612m (€772m) by Santander, the Spanish bank which owns Abbey and has agreed to buy Alliance & Leicester.

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