National Australia Bank Ltd. (NAB.AU) is in talks with NBNK Investments PLC (NBNK.LN) to merge U.K. operations as part of a joint bid for over 600 branches of Lloyds Banking Group PLC (LLOY.LN), The Daily Telegraph newspaper in the U.K. reports Sept. 5.

The paper reports, without saying where it got the information, that the deal, which involves NAB's Clydesdale Bank and Yorkshire Bank units, could create a new U.K. lender with 971 branches and over GBP40 billion in deposits.

 
Newspaper website: http://www.telegraph.co.uk 
   -By Sydney bureau; 61-2-8272-4680; djnews.sydney@dowjones.com
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