US EditionSantander to take over TSB in major £2.65bn deal
- Santander is to buy TSB, becoming the UK's third biggest bank with nearly 28 million customers in the combined entity.
- The deal, subject to regulatory and shareholder approval, is expected to complete in the first three months of 2026 and could mean the end of the TSB brand on the high street.
- Santander has agreed to pay an initial £2.65bn for TSB, with the final price expected to rise to £2.9bn when yet-to-be-announced financial results are factored in.
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Banco Santander would have offered Sabadell €2,690 million (£2.3 billion) for its British subsidiary, TSB. According to the information advanced by 'Reuters', the board of directors of the Catalan bank could meet on Tuesday to determine if they accept the offer. From the Cantabrian entity there are no comments on it, as well as from the team led by Josep Oliu, from which they decline to comment. The Cantabrian entity becomes the official bidder …
·Madrid, Spain
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