Santander reportedly makes offer for RBS´s Williams&Glyn

Banco Santander offered to take-over Royal Bank of Scotland´s Williams&Glyn unit, Reuters reported citing a source familiar with the situation.

At the end of 2015, RBS had stated its intention to beging the formal sales process for the business by the end of June 2016 with the aim of closing a sale by the end of the same year.

Other reports in recent weeks had pointed to Santander UK and Virging Money as the most likely suitors.

The sale of retail and corporate-focused Williams&Glyn had been stymied thus far by the constant glitches in its technology platform.

As of 15:01 BST shares in RBS were 0.90% lower at 187.40p and those of Santander down by 5.02% to €3.524.