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RBS shows Christmas spirit

Royal Bank of Scotland has brushed suggestions its hostile bid for National Westminster Bank are “inadequate”, “unrealistic&#39 and “high risk.”

RBS showed Christmas goodwill responding to its target&#39s quips by saying it was “grateful for the prompt consideration of our offer and for identifying some of the issues relevant to any proposal presented to Natwest shareholders.”

The rebuffed suitor also said it looked forward to demonstrating its offer presented the “lowest execution risk, highest revenue generating and cost saving potential”.

RBS also took the opportunity to state it felt the issues would be better discussed in the new year and wished staff and investors best wishes for 2000.


Hi-tech investment warning

Private investors have been warned on snapping up information technology stocks by trustees of an investment trust.Bankers Investment, a £500m international trust run by Henderson Investors, is claiming technology share price were being driven by high demand from private investors. Its also claiming the fundamentals of analysis have been ignored by the markets valuing them.The […]

Lincoln National sells UK arm

US Life group Lincoln National is selling its British subsidiary following a strategic review.The review has forced the parent company to generate a further £70.4m to cover possible pension misselling compensation costs.Two years ago it designated £254m to cover the costs, believing this amount would cover the compensation claims adequately.British staff were “shocked” at the […]

Charity pledge for Portman carpetbaggers

Portman has scored another point in the war against carpetbaggers by forcing new customers to donate any windfalls to charity.From January 4 all new customers will be urged to donate any demutualisation windfalls to the Charities Aid Foundation, while existing members will be, the website devoted to demutualsing the remaining building societies, is arguing […]

Millennium property boom

The millennium will see the house price boom continue with prices outstripping wages and inflation, according to building society Nationwide.Nationwide expects a 11 per cent surge in house prices following this years 13.5 per cent rise. The building society claims market confidence is set to stay throughout 2000. Abbey National backed Nationwide forecasts with its […]


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