Commenting as the Merger Action Group makes a legal challenge to the takeover of HBOS to the Competition Appeals Tribunal hearing, leader of the Liberal Democrats in Scotland Tavish Scott said:

“I am relieved that Peter Mandelson’s bully-boy tactics have not deterred the Merger Action Group from presenting their case to the tribunal.

“Shareholders are preparing to vote this week on HBOS’ future. I hope that before they cast their votes, they have a clear verdict from the tribunal which underlines the damage that this move will cause to competition.

“This takeover is bad news for account holders and small businesses. Many jobs across the country hang in the balance.”