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Co-Operative Bank Approaches Banco De Sabadell to Buy TSB Bank

Dow Jones Newswires · Oct 25, 2021 02:22

   By Ian Walker

The Co-operative Bank PLC said Monday that it has sent a letter to Banco de Sabadell SA over the potential acquisition of Sabadell's U.K. subsidiary TSB Banking Group.

The U.K. lender, which was responding to weekend press reports, said that no talks are currently taking place between the two companies.

Sky News reported Sunday that Co-Op Bank had contacted Banco Sabadell over the potential 1 billion pound ($1.37 billion) acquisition of TSB. Citing City sources, Sky said that Sabadell wasn't interested in starting talks at this stage.

Write to Ian Walker at ian.walker@wsj.com

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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