Summary
TSB, a British bank, is being sold by its Spanish owner, Sabadell, to Santander for up to £2.9 billion. The transaction requires approval from Sabadell's shareholders and would mark the second sale of TSB in ten years.
Key Facts
- TSB is being sold by its Spanish owner, Sabadell, to Santander for up to £2.9 billion.
- The sale has not yet been finalized; it needs approval from Sabadell’s shareholders.
- This transaction would be the second sale of TSB in the last ten years.
- TSB has a long history, with its brand dating back over 200 years.
- TSB operates 175 branches in the UK.
- Santander has about 349 branches in the UK but is reducing this number as more people use online banking services.
