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Building-Societies -

45 days ago

 

Alliance LeicesterIt is thought that Santander has made a takeover approach for Alliance & Leicester (A&L).

Shares in A&L have rocketed by more than 40% on rumours of an approch that values the building society at about £1.3bn.

The name of the 'suitor' hasn't been revealed but negotiations are said to be at an 'advanced' stage.

Santander who own the Abbey National denied that they were in discussions about a takeover, but nobody in the City was in any doubt that it was the giant Spanish bank that was showing interest.

There have been doubts expressed about the future of the A&L following the recent credit squeeze and collapse of the Nortern Rock.

The FSA is thought to be in favour of 'bigger' banks. So although a takeover would limit customer choice on UK high streets, the takeover by cash rich Santander would be seen as stabilising part of the sector.

Alliance Leicester





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Corporate-Commercial-Legal -

ebay logo
EBay, the online auction website, was ordered yesterday to pay €40 million (£31.5 million) in damages to LVMH, the French luxury goods group, for selling fake handbags, perfumes and haute couture.

The Paris Commercial Court said that eBay had committed “serious faults” through its failure to keep counterfeit goods off its site.The judges ruled that eBay had damaged the reputations of Louis Vuitton and Christian Dior Couture by selling counterfeit products. 

LVMH in giving evidence said 90 per cent of 300,000 products labelled Dior and 150,000 handbags purporting to be Louis Vuitton sold on eBay in the second quarter of 2006 had been fake. 

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Accountancy-Services -

Gibraltar Accountancy ServicesWelcome to the Accountancy Services section.

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