Nationwide Building Society in Secret Talks to Buy TSB

January 2022 – The Financial Mail on Sunday reports that this building society that makes regular claims to be open, honest and transaparent, has been holding secretly talks with with a view to the take over of a bank – TSB.  This is reported to have been a resumption of talks first begun in 2020.  And Joe Garner has previously stated that he was always on the lookout for takeover opportunities.

The report sates that a Nationwide spokesperson said: ‘As members would expect, we are always looking at ways to grow the society to better serve them.’

Just how it would better serve members by being an even bigger and more inefficient and dominating behemoth than it already is would be a mystery.  But there is no doubt who would benefit – the directors.