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Santander bid for branches of RBS on cards

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Santander is back in for Royal Bank of Scotland branches

Santander is back in for Royal Bank of Scotland branches

Santander is back in for Royal Bank of Scotland branches

Santander is reportedly considering a surprise bid for 300 Royal Bank of Scotland branches after pulling out of the same deal three years ago.

The Spanish-owned bank is thought to be eyeing the Williams & Glyn network after it ended exclusive talks to buy the business in autumn of 2012. It cited delays to the completion of a deal at the time.

Newcastle-based Virgin Money is also understood to be looking at a bid for the branches, valued at more than £1.5bn, according to Sky News.

Ulster Bank owner RBS, which is 73% owned by the taxpayer, confirmed that it would launch a formal sale process in the first half of next year after receiving a number of informal approaches.


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