Published Date:
13 October 2008
BRITANNIA today confirmed it is in talks with Co-Operative Financial Services over a possible future merger.
Britannia Building Society said the talks were at a very early stage and would cover a wide range of options.
The combined organisations would have around £70 billion of assets and six million customers. An anticipated House of Commons Bill will make it easier for different types of mutuals – building societies, co-operatives and friendly societies – to work together.
Britannia chief executive Neville Richardson said: "As two like-minded, forward-thinking and financially strong mutuals, we're talking with CFS about how we can work together to create an exciting proposition for our members."
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Last Updated:
13 October 2008 9:46 AM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
