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Monday, December 11, 2006

Merger talks with Co-OP

The Grocer reports that the Co-operative Group and United Co-operatives are in talks to merge.

The UK’s two biggest societies issued a statement today saying: “The boards of the Co-operative Group and United Co-operatives have agreed to discuss the possibility of a merger between their two societies. "Talks have commenced and a further statement from the two boards will be issued when they conclude.”If the merger goes ahead the single society would have 2,300 food stores with a combined turnover of £10.5bn.

I'm sure that it is business as usual with the banking side, as all products within the Co-OP portfolio are seperate as entities.

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