National Australia Bank (NAB) is seeking more time to place an offer for 632 Lloyds Banking Group branches, The Guardian reports. The sales process was speeded up by the bailed-out bank’s CEO António Horta-Osório.
The deal is expected to reach $4.8 billion. London-based Lloyds has been asked by the European Union to sell the branches in return for the $31.8 billion of state aid used during the banking crisis to support the lender.
Click here for the story from The Guardian.