For Virgin Money, a takeover of W&G; would have strong strategic merit as it seeks to grow its presence in the SME banking sector. Banco Sabadell UK has hired advisers to help it make a fresh bid for RBS 's (RBS) Williams & Glyn (W&G) branch network, according to reports. A previous deal between Santander and RBS collapsed in the next year due to concerns by Santander over IT issues relating to the separation of the branch network. A formal auction of W&G will begin in the next few months , as RBS looks to secure an exit from the business ahead of an extended deadline set by the European Commission . Sources say that Royal Bank of Scotland is also interested in W&G , despite remarks from its senior executive the next year that it was not looking at further takeovers "for the next year ".
Banco Sabadell UK has hired advisers to help it make a fresh bid for RBS 's (RBS) Williams & Glyn (W&G) branch network, according to reports. A previous deal between Santander and RBS collapsed in the next year due to concerns by Santander over IT issues relating to the separation of the branch network. A formal auction of W&G will begin in the next few months , as RBS looks to secure an exit from the business ahead of an extended deadline set by the European Commission . Sources say that Royal Bank of Scotland is also interested in W&G , despite remarks from its senior executive the next year that it was not looking at further takeovers "for the next year ".