Santander only remaining bidder for RBS’s Williams & Glyn brand
The deadline for the sale of 318 RBS branches passed on Monday 14th June 2010 with only one bidder remaining; The spanish bank Santander.
RBS are looking to do a deal for between £1.5billion and £2billion with Santander likely to offer £1.7billion to secure the purchase. If the deal does go ahead then it further strengthens Santander’s presence in the UK as they already own the former Bradford & Bingley and Abbey businesses.
RBS is 83% owned by the British taxpayer and is looking to balance its books after nearly collapsing under the stewardship of Sir Fred Goodwin.