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Santander denies NAB UK bid

Santander denies NAB UK bid

(23 January 2013 – Australia) Santander UK has denied it is in talks to buy National Australia Bank (NAB)’s British banks. The Spanish banking group has denied reports that it would make a bid for NAB’s Clydesdale and Yorkshire banks, however Santander UK’s Chief Executive Ana Patricia Botin did say the bank was focused on organic growth.

On Sunday a report in London's Sunday Times, reported that Santander was considering a £2 billion (A$3 billion) bid for NAB's banks, which mostly operate in northern England and Scotland.

The report triggered speculation that Santander wanted to bolster its British business before a planned listing in London, estimated at about £10 billion.
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