UK: NORTHERN ROCK POSTPONES SALE OF CARE HOMES

Article Abstract:

The sale of its care homes by UK-based mortgage bank Northern Rock has been postponed following the ending of its discussions with property group NHP. The talks began in November 1999, as part of a reorganisation involving branch closures and increased telephone and Internet operations. Northern Rock has confirmed that talks with other interested parties are continuing, and the sale is expected to be completed later in 2000.

Nursing & Rest Homes, Nursing and Residential Care Facilities, Mergers, acquisitions and divestments, Nursing homes, Northern Rock PLC

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UK: ABBEY NATIONAL TO LAUNCH CAHOOT

Article Abstract:

The UK retail bank, Abbey National, announced 7 June 2000 that it had signed deals with the mobile phone company, Orange and Carphone Warehouse, the mobile telephone retailer. The deal comes as Abbey prepares to launch its Internet banking unit, Cahoot, on 12 June 2000. Abbey is aiming to attract 100,000 customers by the end of the year 2000.

Strategic alliances, Abbey National PLC, Contracts

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UK: BBV OFFERS BOS HELP IN NATWEST BID

Article Abstract:

Spain's second largest bank, Banco Bilbao Vizcaya (BBV) has offered financial support to help the Bank of Scotland (BoS) acquire NatWest . BoS is bidding some GB[pound] 26bn in a hostile takeover bid for NatWest. Spain's largest bank, BSCH, is said to have offered some GB[pound] 1.2bn to support the Royal Bank of Scotland (RBoS) in its offer for NatWest. Therefore this offer from BBV is expected to result in a proxy battle between the two Spanish giants.

New capacity, new plant construction, Financial management, Spain, National Westminster Bank PLC (London, England), Royal Bank of Scotland PLC, Banco Bilbao-Vizcaya S.A.

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