HBOS ‘to reveal further £5bn writedown’

British financial giant HBOS is planning to reveal further multibillion-pound writedowns this week amid mounting speculation of a rival bid to scupper its planned tie-up with Lloyds TSB, a report said today.

The troubled bank is expected to unveil an additional hit of up to £5bn (€6.4bn) when it updates the market this week, according to The Sunday Telegraph newspaper.