Co-operative Group considers options for bank's capital raising
LONDON, March 24
LONDON, March 24 (Reuters) - The Co-operative Group said it is considering whether to participate in a proposed 400 million pound ($660 million) capital raising by the Co-operative Bank.
"As a shareholder in the bank we will consider our position in relation to the proposed additional capital raising," the group said in a statement emailed to Reuters on Monday.
Co-op Group ceded control of the bank to bondholders including U.S. hedge funds in a restructuring last year which saw its stake reduced to 30 percent.
($1 = 0.6063 British Pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)