Tribunal analyses merger decision

Dec 9 2008

The decision to allow the proposed merger of HBOS and Lloyds TSB was not influenced by statements made by the Prime Minister and Chancellor of the Exchequer apparently in favour of the plan, a tribunal heard.

Business Secretary Lord Mandelson was solely responsible for the decision and was not swayed by his colleagues' views, the Competition Appeal Tribunal was told.

A legal challenge against the decision to waive competition law was heard by a panel of three legal and economic experts.