Santander CEO Flags Delays For UK, Argentina IPOs
July 27 2011 - 6:21AM
Dow Jones News
Banco Santander SA (STD) has put listing plans for its U.K. unit
on hold until at least next year and flagged that a similar plan
for the Argentine unit will be delayed, Chief Executive Alfredo
Saenz said Wednesday.
In a conference call, Saenz said Santander is sticking to the
"idea" of listing its local units, but the plans are suffering
delays due to tough market conditions and regulatory changes.
In the U.K., he said, the regulatory environment remains "very
uncertain," and it is not yet clear what the impact of changes in
legislation will be.
"We're also a bit behind schedule on the integration of the
assets from Royal Bank of Scotland Group (RBS), and finally it's
obvious that the market conditions aren't helping."
Saenz added there were some similar issues for Argentina, "There
are elements of uncertainty in markets, and we need to decide in
due time when the right moment (for a listing) is."
-By Christopher Bjork; Dow Jones Newswires; +34913958123;
christopher.bjork@dowjones.com
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