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Abbey National pays £26m in merger advisory fees

Abbey National has faced costs of £26m as a result of its ill-fated merger attempt with the Bank of Scotland and its defence against Lloyds&#39 attempted hostile takeover.

The £26m in advisory fees have been called a reasonable estimate by chief executive Ian Harley who says the costs are equally divided between the two bids.

Despite, its poor luck as of late, the bank still has an appetite for any possible merger or acquisition as long as it brings value to shareholders says Harley.

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