HBoS shares still rising on takeover talk
THE share price of Halifax Bank of Scotland continued to rise today following market speculation of a possible takeover.
The Edinburgh-based bank saw shares soar 16 per cent yesterday, adding £2.3 billion to its market value, following rumours that Spanish banking giant BBVA was preparing to swoop.
Today, the price has increased at a much slower rate. Shortly before midday, HBoS had seen its share price rise by around 1.7 per cent, or 5.25p, to 310p. Shares have now risen well past the 275p rate they were sold at as part of a largely unsuccessful rights issue.
BBVA is Spain's second-largest bank with 35 million customers, largely focused on the Spanish and South American markets.
Abbey owner Santander, another Spanish banking giant, last week agreed a deal to buy Alliance & Leicester for £1.26bn.
HB0S was today not willing to comment on "market rumours".
The full article contains 156 words and appears in Edinburgh Evening News newspaper.
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Last Updated:
24 July 2008 2:49 PM
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Source:
Edinburgh Evening News
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Location:
Edinburgh
