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Powerful group of hedge funds tables alternative plan to plug £1.5bn black hole at Co-op bank

A powerful group of hedge funds has tabled alternative plans to plug a £1.5bn black hole at the Co-op bank. Furious investors also accused the Co-op’s bosses of refusing to come to the negotiating table.

Financial adviser Moelis & Company made the comments on behalf of a group of institutional investors, dubbed the LT2 Group. However the Co-op last night said it had offered to engage with Moelis last week.

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