£780m Co-op Bank deal agreed in “transformational moment” - Insider Media

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As a customer of both, should I brace myself for untold riches post-acquisition, or………not? :roll_eyes:

Don’t go shopping for that second yacht just yet.


You’re right of course. (The deposit, I’m led to believe, is refundable……).


I’d have gone for a Sunseeker myself, but as I’m a customer of neither institution it’s pedalo for me. R-

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Newp. You are only a customer of The Co-operative Bank, you don’t have a share in it. The shareholders (the US hedge funds) will get a payout.

You are and will continue to be a member of Coventry BS, with a member share, but given they are buying and not selling, again - no payout. (And even if they did, if you joined after 1998, those shares would be automatically assigned to charity in the event of a sellout/demutualisation.)


Never mind @Graham - a brief but pleasant thought. You can share my pedalo. R-


You could always buy it on a Nationwide credit card and transfer the balance to the 28 month 0% Virgin one :grin:


My Britannia BS membership was given away Co-op Bank for free - which helped kick off the downfall of the Bank so I feel Coventry BS should buy me a yacht or two.

I do also keep seeing references to Co-op Bank becoming a mutual again when it was never a mutual to begin with…

It wasn’t a mutual, but it was owned by one.

It still won’t be a mutual in and of itself when it’s taken over by Coventry BS either.

Given that the Britannia was what pulled the co-op down, you should have paid them :grin:

Hopefully, the Coventry and Nationwide have done proper due diligence this time on their respective purchases and aren’t similarly sunk.

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That takes the Coop off the table as an option for me, I have had some poor personal experiences with the Coventry and don’t touch them as a result.