A demerger and stock market listing of the "Verde" branches of Lloyds Banking Group is one approach being considered by the group's management, The Sunday Telegraph reports.Demerger would be an alternative to a trade sale to a bank buyer or investment group.According to the newspaper, Lloyds received only two bids for the portfolio of 632 branches and related assets that the group must sell to meet European Union requirements.The two were from NBNK and Co-operative Financial Services, with the latter bid being described as "lacklustre".National Australia Bank reserved its position to make a bid at a later date, according to the Telegraph.