The Co-op, named before Christmas as Lloyds' preferred bidder for the EU-enforced sale, has held unsuccessful talks with Gary Hoffman, former boss of Northern Rock and now chief executive of bid rival NBNK, about heading its UK banking operation.
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Lloyds Co-op sale delayed
Lloyds Banking Group's proposed sale to The Co-operative Group of 632 branches, including 185 in Scotland, is being slowed by regulatory demands for a bigger-hitting board to run the new business, it was claimed yesterday.
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