Santander has reportedly made an offer to Royal Bank of Scotland (RBS) to acquire 300 of its bank branches which must be sold as part of the 2008 bailout package.
According to two sources quoted by Reuters, the Spanish bank has made an offer to take over RBS's Williams & Glyn business which consists of 300 branches. RBS has been instructed to sell the division by the end of 2017 as part of its government bailout conditions but warned earlier this year it might miss the deadline due to problems involved in developing a new IT system. The sale of the division would be a major steps towards the bank's return to full private ownership. A spokesperson for Santander told Reuters the firm did not comment on market rumours or speculation. Share...
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