Santander Wants Share in RBS: To Study Acquisition

According to a Spanish newspaper, Santander (NYSE:STD) may be interested in buying part of the Royal Bank of Scotland (LON:RBS).

Santander will study the acquisition of RBS small and medium sized business unit if it is confirmed that RBS puts it up for sale, as we reported in a recent post. RBS have to sell off some of their businesses to comply with Brussels. RBS was bailed out at the height of the global financial crisis, to sell assets in a bid to revive the sector and address EU concerns over state aid.

Santander is the third-biggest bank in Britain, where it bought Alliance & Leicester in October 2008, one month after it acquired the deposits and distribution channels of Bradford & Bingley and four years after purchasing Abbey National.

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