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B&B may seek trade buyer

Bradford & Bingley may seek a trade buyer rather than get a London listing in the light of falling valuations for mortgage and savings banks.


Their proposed pricing at around ten times historic earnings has dampened down institutional interest in the share offer.


Only mortgage and savings banks with aggressive e-banking strategies such as Halifax and Woolwich have market ratings that exceed ten times earnings.


Abbey National and Northern Rock are likely to be interested if B&B does opt for a trade sale.

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