GLOBAL MARKETS: Lloyds sells Irish mortgage business
The deal is the last action needed to complete Lloyds’ exit from the Irish market
Lloyds sells Irish mortgage business
Lloyds Banking Group has sold its Irish residential mortgage portfolio to Barclays for about £4bn in cash, as part of a plan to focus on its core British market.
The deal was the last action needed to complete Lloyds’ exit from the Irish market, following the closure of its retail banking operation there in 2010.
Fujifilm set to sue
Fujifilm Holdings is planning to sue Xerox, claiming the US photocopier firm has no legal right to unilaterally scrap a US$6.1bn merger between the two companies, according to a senior Fujifilm executive.
"We are currently in talks with lawyers on the schedule for filing the lawsuit and plan to go to court as soon as possible," COO Kenji Sukeno said at an earnings briefing.
In January, Fujifilm and Xerox agreed to merge Xerox into its 56-year-old Asian joint venture, Fuji Xerox, and give Fujifilm control. Xerox pulled out of the deal last week in a settlement with activist investors Carl Icahn and Darwin Deason, who said the deal undervalued Xerox.