EMBATTLED West Bromwich Building Society last night confirmed it was in talks over a debt deal that would boost its capital strength.

The troubled mutual revealed that the discussions over GBP 182.5 million of debt were at an advanced stage and could lead to a deal that would "materially strengthen" its capital strength.

West Bromwich - the UK's eighth largest building society - has been the subject of speculation about a rescue as concerns have grown over its financial health. The deal being worked on was believed to be a debt-for-equity swap by financial institutions who have lent the ...

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