Coventry Building Society in talks to acquire The Co-operative Bank for £780m, potentially creating a £89bn combined group.
Coventry Building Society is in talks to acquire The Co-operative Bank for £780m, potentially creating a combined group with a balance sheet of £89bn and a significant presence in the mortgage and savings market. The acquisition, if successful, would return Co-op Bank to mutual ownership and offer its 3 million customers the opportunity to become members of Coventry Building Society. There is no guarantee that the acquisition will occur, as both parties are still working on the arrangements.
April 17, 2024
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