The Co-op Bank has new entered 'exclusive' merger talks with Coventry Building Society. This is now officially confirmed.
Starting with the Financial Times, which included a quote from the Customer Union, a number of media outlets have now picked up on the story.
https://www.ft.com/content/cee13985-7dad-4710-b9a2-49f0e9258134 (Paywall)
We commented to the FT:
"The Customer Union for Ethical Banking, the independent union for Co-op’s customers, said a successful deal would “align perfectly with our dual goals: preserving the bank’s world-leading ethical standards and steering it back towards some form of mutual or co-operative ownership.”