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High street banks are closing in on a deal with the Post Office that will allow them to closure thousands of branches. The government-owned Post Office, which is expected to be mutualised later in the decade, will serve the small business customers of all the main lenders from its 11,500 branches and act as the “last bank” in some rural communities, the Sunday Times said.
Shares in Concha should be sold, said the Sunday Times' Inside the City column. The cash shell's shares have plunged after chairman Chris Akers failed to seal the deal on a “specific global opportunity”, with nine months of talks coming to an end last Thursday. The share price now values the company at less than £10m, with £5. 7m cash in the bank.
