LONDON, March 10 (Reuters) - Spain's Santander has appointed Credit Suisse to advise on a potential bid for more than three hundred of Royal Bank of Scotland's UK bank branches, two people familiar with the matter said on Wednesday.
The Spanish bank, eager to expand its business banking footprint in Britain, could face competition from National Australia Bank and Virgin Money, part of entrepreneur Richard Branson's Virgin consortium, which are also looking at the assets, other sources said previously.
Suitors have been set an indicative bid deadline of around the Easter break in early April. But RBS, which has until 2013 to complete the sale, could pause the process if bids are too low.
Santander and Credit Suisse declined to comment.
(Reporting by Victoria Howley and Clara Ferreira-Marques) Keywords: CREDITSUISSE/SANTANDER XX:ams125764..4.0.-1.t.fip.XX.0.SZ.ukbp-xxnfip01a,ukbp-xxnfip01b#XP:ukbp-xxnfip01b ~ (victoria.howley@thomsonreuters.com; +44 (0)207 542 2415; Reuters Messaging: victoria.howley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Spanish bank, eager to expand its business banking footprint in Britain, could face competition from National Australia Bank and Virgin Money, part of entrepreneur Richard Branson's Virgin consortium, which are also looking at the assets, other sources said previously.
Suitors have been set an indicative bid deadline of around the Easter break in early April. But RBS, which has until 2013 to complete the sale, could pause the process if bids are too low.
Santander and Credit Suisse declined to comment.
(Reporting by Victoria Howley and Clara Ferreira-Marques) Keywords: CREDITSUISSE/SANTANDER XX:ams125764..4.0.-1.t.fip.XX.0.SZ.ukbp-xxnfip01a,ukbp-xxnfip01b#XP:ukbp-xxnfip01b ~ (victoria.howley@thomsonreuters.com; +44 (0)207 542 2415; Reuters Messaging: victoria.howley.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.