Lloyds sale of over 600 branches to Co-op collapses

Lloyds Banking Group's sale of more than 600 branches to the Co-operative Group has collapsed after the Co-op said it cannot proceed with the deal.

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Lloyds branches sale called off

The sale of 632 Lloyds Banking Group branches to the Co-operative Group has collapsed. The financial institution, which is 43% owned by the taxpayer, was forced to sell them by European regulators.