LONDON (dpa-AFX) - Lloyds Banking Group (LLOY.L) is in exclusive talks to buy a 3.7 billion pound mortgage book from supermarket giant Tesco's (TSCO.L) banking unit, Sky News reported citing sources.
Lloyds would pay tens of millions of pounds to Tesco to seal the supermarket giant's exit from the UK mortgage market, the report said.
In May, Tesco Bank said that Tesco Personal Finance ceased new mortgage lending and was actively exploring options to sell its existing mortgage portfolio.
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