Bradford & Bingley shares leap on bid talk-traders
LONDON (Reuters) - Shares in mortgage lender Bradford & Bingley briefly rose as much as 17 percent in late trade on Friday as traders cited renewed speculation of a potential bid for the company by domestic rival Lloyds TSB (LLOY.L).
Bradford & Bingley and Lloyds TSB declined to comment. Alliance & Leicester ALLL.L, which is also seen as a possible target for Lloyds, could not immediately be reached for comment.
By 3:30 p.m. B&B shares had subsided to show a 5.7 percent gain on the day, at 219 pence. The company finished a post-results roadshow with investors on Friday.
Shares in Lloyds were down about 3 percent, while A&L shares were up 1.2 percent.
(Reporting by Amanda Cooper, Dominic Lau and Steve Slater)
© Thomson Reuters 2009 All rights reserved.
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