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Santander looking to sell UK operations

Santander, the Spanish financial giant, is rumoured to be on the verge of selling off a 20% stake in its British operations which take in the likes of Abbey, Alliance and Leicester and Bradford and Bingley. The company has been very active in the acquisitions market over the last few years, not only in the UK but around the world, and many feel the company is looking to cash in some of its chips.

If the rumours are correct it would appear that the UK operations would have a value of about £3 billion of which 20% would be floated on the UK stock market. This potential windfall of £600 million could be used to increase the financial strength of the overall Santander operation or indeed could fund further acquisitions in the UK and overseas. Either way the company is looking to restructure a whole host of its overseas operations amid signs that tighter funding regulations are about to hit the worldwide financial arena.

At a time when many other banks are struggling to make ends meet it seems that Santander has benefited from being a relatively fresh face in the UK market even though the company is a major figure on the worldwide arena. A number of well timed and well-placed acquisitions have allowed the company to build a success UK operation which has a significant foothold in the UK financial market.

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