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9th September 2011

NBNK confirms talks - shares suspended

NBNK confirmed that it was in talks relating to the acquisition of a UK retail bank and that "In view of the size of the operations NBNK is seeking to acquire, any of which would be a reverse takeover pursuant to the AIM Rules for Companies".


It went on to state that due to press speculation it had asked for the shares to be suspended "until such time as an admission document is published in relation to an acquisition or the talks otherwise conclude."

The usual caveat relating to no certainty of a deal was also included.


The move would appear to confirm the story that NBNK is seeking to acquire Clydesdale and Yorkshire Banks from National Australia Bank and then to acquire the Lloyds Banking branches for sale and merge all three to form a major new retail banking force in the UK.