09-05-2025
Fresh twist for Santander as NatWest takeover bid revealed
The future of Santander's UK division has been thrust back into the City spotlight after it emerged that NatWest tried to buy the business for about £11 billion this year.
The takeover approach was rejected by the Spanish banking giant for being too low and talks between the two sides are no longer active, the Financial Times reported.
Even so, the bid underscores NatWest's growth ambitions as the taxpayer-backed lender approaches full reprivatisation.
• Santander UK to close 95 branches with 750 jobs at risk
It also comes after Santander was forced to deny speculation in January that it was reviewing its presence in the UK, with Ana Botin, the group's executive chairman, insisting that Britain 'will remain a core market' for the business.
