By Pia Heikkila
Published: 18 April 2000 17:01 GMT
UK-based ISP Totalise is threatening the Chelsea Building Society with a hostile takeover bid.
Totalise had previously proposed a merger between the two companies which the building society refused to consider. The ISP has subsequently launched its takeover bid.
With no background in banking or finance, Totalise is keen to acquire the building society and its infrastructure pending the launch of its own Internet banking service later this year.
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