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The Bank of London bids for SVB UK as UK government races for buyers
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The Bank of London has made a formal bid for the UK operations of Silicon Valley Bank, as the government has spent the weekend trying to find buyers for the collapsed lender.
The clearing bank, which was set up in 2021, said that it and a consortium of private equity firms have submitted a formal bid to the Treasury for SVB UK, according to a statement on 12 March. No further details on the size of the deal or other bidders were provided.
Chancellor...
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