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TUC asks Competition Commission to kick the Abbey habit.


The TUC is calling on the government to refer the proposed Lloyds-TSB takeover of Abbey National to the Competition Commission.

On the same day that the Office of Fair Trading is expected to meet to discuss the bid, TUC General Secretary John Monks said:

“Nine thousand jobs are at stake – more than the recent losses at Corus and Vauxhall put together. As important is the threat to consumer choice. If this takeover goes ahead, it will be open season for the big banks to swallow up their smaller high street competitors.”

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