Merger set to create Britain's sixth-largest bank by assets

Резюме

Mid-sized bank British Bank CYBG has agreed to buy the rival Virgin Money in a £1.7bn ($2.3bn) all-share deal that will create Britain's sixth-largest bank by assets and a stronger challenger to the country's top lenders. Britain's biggest bank merger since the financial crisis was clinched by this month's sweetened bid from CYBG and will give Virgin Money shareholders, who include entrepreneur Richard Branson, about 38% of the combined group. Branson owns 35% of Virgin Money.

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