Lloyds TSB (LYG) and HBOS seek to raise £17B as they move ahead with merger plans. Respectively...

|About: Lloyds Banking Group plc (LYG)|By:, SA News Editor

Lloyds TSB (LYG) and HBOS seek to raise £17B as they move ahead with merger plans. Respectively looking for £4.5B and £8.5B from investors, the government will buy surplus shares as well as £4B of preferred shares in the two banks. LYG +3.6% premarket.