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Britain’s Co-op bank confirms TSB approach

by Wanda Rich
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2021 10 25T064141Z 2 LYNXMPEH9O05D RTROPTP 4 SABADELL TSB 1

LONDON (Reuters) – Britain’s Co-operative Bank confirmed on Monday that it expressed interest in potentially buying TSB from Spanish lender Banco de Sabadell.

The bank said that it sent a letter to Banco de Sabadell but that no discussions are currently taking place between the two banks.

Sabadell said on Saturday its board has rejected an offer from Co-operative Bank for its British subsidiary, after Sky News first reported about the approach.

(Reporting by Abhinav Ramnarayan; Editing by Rachel Armstrong)

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