LONDON (Alliance News) - Royal Bank of Scotland Group PLC has received interest from bidders for its Williams & Glyn UK retail bank and is considering an outright sale in place of a stock market flotation, Bloomberg reported on Monday, citing two people with knowledge of the plans. RBS has been working towards separating Williams & Glyn from the rest of the group in the summer of 2016, with an initial public offering targeted by the end of 2016. The state-backed bank must divest the retail bank by the end of 2017 under European Union state aid rules, conditions which were stipulated as part of the lender's GBP45.5 billion government rescue in the midst of the financial crisis of 2008-09. Bloomberg said that British and European banks have indicated their interest in the unit, which could be valued at about GBP1.5 billion. Shares in RBS were down 1.0% at 282.60 pence on Monday afternoon. http://www.bloomberg.com/news/articles/2015-12-14/rbs-said-to-receive-interest-for-2016-sale-of-u-k-consumer-bank By Samuel Agini; samagini@alliancenews.com; @samuelagini Copyright 2015 Alliance News Limited. All Rights Reserved.s
Royal Bank of Scotland (RBS) has received takeover bids from UK and British banks for its Williams & Glyn banking arm, which could be valued at £ 282.60 pence , as reports suggest that RBS is considering options of selling the consumer operation instead of floating it next year . Williams & Glyn has been working toward separating Royal Bank of Scotland in the summer of 2016 , with an IPO targeted by next year .