Bank of China eyes HBOS bid

Nov 11 2008

The Bank of China has emerged as a potential bidder for an alternative takeover of HBOS, it is reported.

The BBC said the bank was in "early talks" with former HBOS executive Jim Spowart and investment company European American Capital over a possible counter bid to the proposed takeover by Lloyds TSB.

Lloyds TSB says it will be able to deliver annual cost savings of more than £1.5 billion by the end of 2011 through its deal.