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Britain’s Co-op bank confirms TSB approach

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

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 (SABE.MC) 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. read more

Reporting by Abhinav Ramnarayan Editing by Rachel Armstrong

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