Santander UK Says Not In Talks To Buy NAB UK Assets
January 21 2013 - 7:31AM
Dow Jones News
By Max Colchester
LONDON--Santander U.K. Monday denied it was in talks to buy
assets from National Australia Bank Ltd. (NAB.AU).
The Sunday Times reported that the unit of Spanish lender Banco
Santander SA (SAN) was eyeing a 2 billion pound ($3.17 billion)
deal for NAB-owned Clydesdale and Yorkshire banks to speed up its
expansion in the U.K.
A spokesman for Santander said that it wasn't in talks and was
focusing on organic growth within the U.K.
NAB has been under shareholder pressure to sell it U.K.
operations, which are suffering as the British economy
stagnates.
Write to Max Colchester at max.colchester@wsj.com
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