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Pain in Spain is TSB’s gain

12 March 2015 By Dominic Elliott, Fiona Maharg-Bravo

Sabadell has offered to buy old-new UK bank TSB for 1.7 bln stg. Half-owner Lloyds has to sell anyhow. The Spanish lender would add foreign reach, while a fully owned TSB could focus on growth, not dividends. That could help it compete against a rash of newly listed peers.

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