ROYAL Bank of Scotland has sucked in "several billions" from nervous investors as new bidders threaten to gatecrash the £12bn merger between HBOS and Lloyds TSB. RBS is understood to have been a huge beneficiary of the continuing turmoil in the sector with HBOS customers among those to have joined what one banking source described as "a flight to quality". Corporate and retail investors have switched savings and other investments to those institutions seen to offer greater security. Worldwide panic caused by last week's extraordinary fluctuations on stock markets forced HBOS and Lloyds TSB into a hurried merger, but this...
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