Royal Bank of Scotland has made an 11th-hour move to settle the shareholder compensation case that was due to start today at the High Court in London (see https://capital.com/cmsadm.php?action=articles&mode=preview&id=180).
The Financial Times and the BBC have both reported that the bank nearly doubled its offer to 82 pence a share, from the previously offered 43.2 pence.
We have asked both sides to the dispute for their reaction and will communicate it as soon as we hear from them. In the meantime, as things stand the adjourned case will start at 10.30am UK time tomorrow.
Just in from RBS: We won’t be commenting, but yes it has been postponed until tomorrow to allow for further settlement discussions.
23 May: Hearing adjourned for a further 24 hours, further raising expectations of an out of court settlement.