Bidders poised to swoop for MBNA

POTENTIAL buyers are reported to be lining up bids for MBNA, one of Britain’s largest credit card issuers.

According to Sky News, owners the Bank of America has activated plans for an auction of MBNA, which has a loan book of about £7bn – is equivalent to about 11% of the UK credit card market.

The potential sale follows a previous attempted sale by BoA which attracted an unsuccessful offer from private equity firm Apollo Management, part of Wall Street bank Goldman Sachs.

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