Lloyds Bank May Be Proposed for Breakup by U.K. Commission, FT Reports

Lloyds Banking Group Plc may be recommended for breakup by a U.K. government-appointed panel, reversing last year’s combination with HBOS Plc, according to committee member Clare Spottiswoode, the Financial Times said.

The statement by the former gas regulator at a meeting in Leeds, England, was confirmed by an official contacted by Bloomberg News at the Independent Commission on Banking. Beth Longcroft, a spokeswoman for Lloyds, declined to comment.

To contact the reporter on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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