Bloomberg News

JC Flowers, Principality Building Society End Talks, Sky Says

October 22, 2011

Oct. 22 (Bloomberg) -- JC Flowers & Co. and Principality Building Society have ended merger talks, Sky News’s Mark Kleinman reported on his blog, citing Peter Griffiths, Principality’s chief executive officer.

Griffiths said Principality is “not involved in any active dialogue” with the private-equity company, while JC Flowers declined to comment, Kleinman wrote.

The two companies had been exploring either bidding for Northern Rock Plc through a joint venture or merging Principality’s assets with OneSavings Bank Plc, Kleinman wrote, citing unidentified people close to the discussions.

--Editors: Andrew Langley, Ana Monteiro

To contact the reporter on this story: Ben Martin in London at bmartin38@bloomberg.net

To contact the editor responsible for this story Paul Armstrong at Parmstrong10@bloomberg.net


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