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BANK APOLOGISES TO CO-OP FOR ITS PART IN TAKEOVER BID

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The chairman of the city bank and law firm Hambros has issued a public apology to the Co-operative Wholesale Societ...
The chairman of the city bank and law firm Hambros has issued a public apology to the Co-operative Wholesale Society for its part in Andrew Regan's aborted£1.2bn bid for the group.

The Independent (p21) reports that the bank paid an undisclosed 'substantial' sum to the CWS, which holds over 80 local authority bank accounts.

The CWS accepted the apology and dropped all legal action against Hambros over the seven boxes of confidential CWS files used by Hambros during the bid attempt.
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