[arista]

"Co-operative Group will now control
30% of the bank's equity, less
than the 75% proposed in the original rescue plan

American hedge funds have forced
the Co-operative Group to relinquish
control of its banking arm in a deal
that raises concerns about its ethical
approach to business for
4.7 million customers.
After months of intense talks
with two US hedge funds,
the UK's largest mutual – and owner
of pharmacies, grocers and
funeral homes – was forced
to cede majority control in
the bank as it battles to
plug a £1.5bn capital shortfall."

http://www.theguardian.com/business/...us-hedge-funds



http://news.sky.com/story/1157540/re...ent-bank-stake







What a Mess the Co Op is now