By Marcus Leach

Lloyds Banking Group today (Wednesday) announced that, having received three formal offers for its EC mandated retail and commercial business divestment, Verde, it has decided to take forward discussions with two bidders.

“We are very pleased with the level of interest and detail of the offers that have been made. We will now move quickly in parallel talks with each bidder,” Tim Tookey Interim Group Chief Executive and Group Finance Director said.

The Group will also continue to work on an Initial Public Offering (IPO) as a potential alternative to a direct sale.

As previously announced, the Group is aiming to identify a preferred option by the end of the year.

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