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Santander to buy TSB for £2.65bn amid fears of branch closures and job losses

Purchase would be third major ownership shake-up for high street lender in 12 yearsThe Spanish bank Santander is buying the British high street lender TSB for £2.65bn, raising fears of job cuts and branch closures across the combined group.The proposed deal, announced on Tuesday evening, is the result of a takeover tussle in Santander’s home base of Spain, with the lender Sabadell having decided to sell TSB as it faces an €11bn (£9.4bn) hostile approach from a rival, BBVA. Continue reading...

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