September 18, 2008 / 12:28 PM / 11 years ago

PM promised Lloyds no probe into HBOS deal

LONDON (Reuters) - Prime Minister Gordon Brown told Lloyds TSB Chairman Victor Blank on Monday there would not be a competition inquiry into the bank’s takeover of domestic rival HBOS, Blank said.

Blank also told reporters on Thursday that the deal could not have gone ahead had it been subjected to a lengthy competition probe, adding that Lloyds Chief Executive Eric Daniels first approached HBOS about a deal six weeks ago.

Reporting by Steve Slater, writing by Paul Hoskins

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