An odd story on the BBC: Bank of China is considering a bid for the U.K. mortgage lender HBOS, which is being taken over by another British bank, Lloyds TSB under the British government’s bailout of its banks. The unsourced BBC report says talks are “at a pretty early stage.”
Were such a takeover to occur, it would be the biggest overseas acquisition ever by a Chinese bank. Not likely as things now stand, nor as things stood before the global financial crisis (see “Faced With Losses, Beijing Stops Banks Buying Abroad“).
To this Bystander, this smells of investment bankers carpet bagging.