RBS warned not to reject £1.5bn branch bid

The Telegraph reports Andy Higginson, the ex-Tesco finance director, said the board of RBS would have to be "very brave" not to accept the bid. The branches are up for sale due to European anti-state aid laws following the bank's multi-billion pound government bailout. It took £45.5bn from the government and is therefore still 81% taxpayer owned. Higginson told the Telegraph: "This is not their [RBS’s] option. They have an obligation to get rid of this business. I think it would be a very brave board that went to the EU having turned down a deal on the table that values the business at bo...