Bank of Scotland has hit out at National Westminster Bank's defence strategy as “selective and unrepresentative” in the latest snipe of the hostile takeover bid for the bank.
The attack responds to Natwest's defence document which slated most banking mergers as destroying value.
But BoS says Natwest' s defence “clearly indicated its failure to understand the dynamics of modern banking” claiming it was only going on US evidence against mergers.
BoS chief executive Peter Burt says: “Its easy to look for problems and make generalisations based on selective data. It is more meaningful to develop forward-looking solutions and strategies to create value.”