Santander bank bids for Royal Bank of Scotland branches

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Spanish bank Santander said on Friday that it had made an offer to Royal Bank of Scotland to buy about 300 banking branches in Britain.

Santander, the biggest Spanish bank, revealed its offer in a statement to the Spanish stock market authority CNMV, but did not give the value of the bid.

"Banco Santander announces that its affiliate Santander UK has submitted an offer in the tender process of approximately 300 branches of Royal Bank of Scotland that is taking place in the United Kingdom," it said.

"Currently, it is not possible to say when the tender process will conclude," it added.

© 2010 AFP

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