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Bradford & Bingley to outline conversion process

Bradford & Bingley is to set out its conversion timetable when its writes to its 3.1m members next month according to the Financial Times.


The provisional timetable provides members with a schedule for the demutualisation which is likely to culminate in a final vote next summer and conversion by the end of 2000.


Details of how windfall payments will be distributed and on who will be eligible to receive them are likely to be announced in November.


The FT says the windfall bonanza is likely to exceed £3bn.

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