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Co-op to buy more than 600 Lloyds TSB branches

Almost five million Lloyds TSB customers are to be transferred onto the books of the Co-operative bank, after a deal was agreed over the sale of more than 600 branches.

Lloyds, which is 40% owned by the taxpayer, was forced to sell the branches to comply with European rules on state aid.

Simon Gompertz reports.

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