Darling urges bank shareholders to approve fundraisers

UK Chancellor Alistair Darling made it clear that shareholders of HBOS, Lloyds TSB, Royal Bank of Scotland and Barclays have little choice but to approve fundraising deals that the banks have on the table. Darling's statement to bank investors explained that a new rescue of the banking sector would be more punitively priced than these deals. His comments come as shareholders are about to vote on the Lloyds-HBOS merger and Barclays moves to offer unsettled shareholders similar terms that it offered Middle Eastern investors in a recent capital-raising effort.

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