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OFT statement on proposed merger between Lloyds TSB and HBOS

108/08    18 September 2008

The OFT expects to begin consideration of the competition effects of the proposed merger shortly, and will do this through established procedures, taking full account of information from the merging parties and others.
 
We note the Secretary of State’s intention to issue an intervention notice, which means he will make the final decision on whether this should be referred to the Competition Commission, taking account of both competition and public interest issues.

The OFT will complete its competition investigation within a time period to be specified in the intervention notice.

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