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It's a standalone entity that gets lost when it's part of a much bigger conglomerate".
"This is the first bank to be rescued and to survive as a standalone entity without taxpayer money," Sutherland said.
The TMG version is that Lewis was labouring under a misconception: there was no question of a standalone entity.
The banks are selling off businesses that will represent a "standalone entity" that can be bought by new entrants into the market.
As a standalone entity, the investment bank would almost certainly require an additional capital injection to be able to finance itself.
The capital injection means the bank, which has 4 million customers, will continue as a standalone entity after it abandoned efforts to find a buyer.
Similar(7)
Proteins inherently are not designed to be standalone entities.
That's scarcely more than half the price its parts would fetch as standalone entities.
One thing about all this innovation: it's still based around magazines as standalone entities sold a la carte or for single-publication subscriptions.
The CMA could issue an order that the two businesses operate as standalone entities for an extended period of time before allowing the takeover to happen.
"We view this event as possibly only the first step in attaining the full underlying value of the [Fortune] portfolio by clearing most of the tax complexities involved with splitting the business into standalone entities," Jefferies noted on Wednesday.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com