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Lex/Autolease merger on the cards in banking crisis

Date: 17 September 2008   |   Author: Tristan Young

The two largest leasing firms could join forces if Lloyds TSB's reported merger with HBOS goes ahead.

Lloyds TSB, the owner of the UK's second largest leasing firm Autolease, is in "advanced talks" with Halifax Bank of Scotland, the owner of the UK's largest lease firm Lex, according to the BBC.

The banking merger has been brought about by the crisis in the worldwide financial markets.

Should Autolease and Lex merge it would create a giant leasing firm with a fleet in excess of 400,000 vehicles.

Both Lex managing director Jon Walden and Lloyds TSB Autolease boss Nigel Stead were unavailable to comment.