Demands to see OFT report on HBOS rejectedOFT bank takeover report not to be published
28 October 2008
Demands for a report on the Lloyds TSB takeover of HBOS to be published immediately have been rejected.
Demands for it to be published came from Liberal Democrat MP Alistair Carmichael and SNP MSP Alex Neil.
But an OFT spokesman said: "We won't be publishing anything until the Secretary of State, Lord Mandelson, makes his decision."
Which? Money editor Martyn Hocking said 'The report should be published immediately so that customers of Lloyds TSB and HBOS know where they stand and the competition implications of the merger can be clarified.'
Which? has written to Lord Mandelson, Secretary of State for Business, Enterprise and Regulatory Reform, urging him to ensure consumers are already losing out due to weak competition are protected.
Which? has also produced a guide to the Lloyds TSB HBOS merger.
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